Beijing-backed AIIB allocates USD 100 million to Mongolia - News.MN

Beijing-backed AIIB allocates USD 100 million to Mongolia

Beijing-backed AIIB allocates USD 100 million to Mongolia

The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of USD 100 million to help Mongolia battle the coronavirus pandemic, the bank said on Friday.

The project, cofinanced by the Asian Development Bank, will support a government program covering public health funding, protection of vulnerable groups, support for businesses and fiscal stimulus measures, the bank said in a statement.

The loan is part of the AIIB’s USD10 billion funding facility to help public and private sectors fight the outbreak.

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