BEIJING: The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved US$1 bil (RM4.28 bil) in two loans to help Indonesia combat the coronavirus pandemic, the bank said on Tuesday.
The first loan of US$750 mil, with co-financing from the Asian Development Bank, will support a project to boost economic support for businesses and vulnerable households as well as bolster the health system, the bank said in a statement.
The second loan of US$250 mil, with co-financing from the World Bank, will back the immediate government response to the pandemic in areas such as testing, surveillance and treatment.
Both loans are part of the AIIB’s US$10 bil funding facility to help both the public and private sectors fight the outbreak. – June 23, 2020, Reuters
