News
19 June 2020
AIIB approves first loan to Mongolia to help COVID-19 fight
In:
Social infrastructure
Region:
Asia-Pacific
The Asian Infrastructure Investment Bank has agreed a loan of $100 million to Mongolia to support its COVID-19 Rapid Response Program. It is AIIB’s first project financing in the country.
The loan - provided under the bank’s COVID-19 Crisis Recovery Facility - will provide budgetary support to the government’s countercyclical development expenditure program, which targets funding for public health, social protection for vulnerable groups, support to businesses and fiscal stimulus measures.
