AIIB extends $500 mn loan to India to deal with coronavirus crisis

Multilateral funding agency Asian Infrastructure Investment Bank (AIIB) will extend a $500 million loan to India to support country’s efforts to prevent, detect, and respond to the threat posed by coronavirus (Covid-19).

The project is funded by AIIB’s Covid-19 Crisis Recovery Facility, created to adapt to urgent financing needs of the bank’s members impacted by the pandemic, the bank said in a statement.

The bank's board of directors has approved a loan to India to strengthen the preparedness of the country’s national health system.

The India Covid-19 Emergency Response and Health Systems Preparedness Project, co-financed with the World Bank, will