AIIB approves $ 250 million loan to Pakistan to fight COVID-19 impact

A health worker takes blood sample of a boy during door-to-door testing and screening facility for the coronavirus, Wednesday, June 10, 2020

Beijing (Reuters): The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Wednesday it would lend $250 million to Pakistan to help the country deal with the effects of the COVID-19 pandemic.

The project will be co-financed by the World Bank and will bolster a Pakistan government program to strengthen health infrastructure, social safety nets, investment in human capital and economic growth, the AIIB said in a statement. 

The AIIB has previously approved a loan of $500 million for Pakistan’s response to COVID-19. Both loans are part of the AIIB’s $ 10 billion funding facility to help public and private sectors fight the outbreak.