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Beijing-Backed AIIB to double funds under coronavirus crisis facility to $10 billion

FILE PHOTO: The headquarters of Asian Infrastructure Investment Bank (AIIB) is seen under construction in Beijing, China May 5, 2019. REUTERS/Stringer

BEIJING (Reuters) - The China-backed Asian Infrastructure Investment Bank said on Friday that it was doubling available funds under its COVID-19 crisis recovery facility to provide up to $10 billion in financing to meet high client demand.

Requests for funding have sharply exceeded the $5 billion originally allocated for emergency relief, the Beijing-backed bank said in a statement.

Reporting by Ryan Woo; Editing by Shri Navaratnam

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