The Beijing-based Asian Infrastructure Investment Bank has doubled the funds available from its Covid-19 crisis facility to $10bn following a spike in demand for loans.
The development bank said requests for funding had exceeded the $5bn originally allocated for pandemic-related projects.
“We are facing a formidable challenge, with the depth and severity of the crisis growing with each passing day,” said Jin Liqun, AIIB president and chairman. “It was imperative that we respond to the urgent and extraordinary scale of demand from our members to significantly increase the scope of our response.”
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