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.

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