June 19, 2020 / 3:38 AM / 24 days ago

China-backed AIIB approves $100 mln loan for Mongolia's virus fight

BEIJING, June 19 (Reuters) - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of $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 $10 billion funding facility to help public and private sectors fight the outbreak.

Interactive graphic tracking global spread of coronavirus: open tmsnrt.rs/3aIRuz7 in an external browser. Reporting by Gabriel Crossley; Editing by Clarence Fernandez

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