China-backed AIIB approves $100m loan to Bangladesh to fight Covid-19


REUTERS | Published: August 28, 2020 15:42:05 | Updated: August 28, 2020 18:44:21


People wait in the queue outside of a coronavirus testing centre amid concerns over the coronavirus disease (Covid-19) outbreak in Dhaka, Bangladesh, May 17, 2020 — Reuters/Files

Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $100 million to Bangladesh to help the country deal with the Covid-19 pandemic.

The project will be co-financed by the World Bank and aims to increase the country’s testing, tracing and treatment capacity, as well as its pandemic preparedness, according to a statement by the AIIB.

The loan is part of AIIB's $13 billion funding facility to help public and private sectors fight the pandemic. The bank had already loaned Bangladesh $250 million through this facility in May.

Share if you like