April 16, 2020 / 11:31 PM / 2 months ago

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below