AIIB grants $750m loan to Philippines for Covid-19 fight

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By Pan Yue
29 May 2020

The Asian Infrastructure Investment Bank has approved a $750m loan to the Philippines to help it recover from the Covid-19 pandemic.

The loan is part of AIIB’s Covid-19 active response and expenditure support programme, which will be co-financed with the Asian Development Bank. AIIB will provide $750m and the ADB will provide another $1.5bn.

The proceeds will be used to increase the Philippine government’s testing capacity for the coronavirus, support ...

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