Asian Infrastructure Investment Bank (AIIB) agreed to provide a 91 million Euro loan (about 99.7 million U.S. dollars) to help Georgia respond to threats caused by the coronavirus pandemic, Georgia’s Finance Ministry announced Thursday.
The 91,340,000 Euro loan agreement signed Thursday is under World Bank’s Emergency COVID-19 Response Project for Georgia, according to the Ministry.
The Ministry said that the fund aims to support the country’s health care sector, increase the capacity of the epidemiological research, expand general testing and facilitate access to critical medical devices to combat COVID-19, said the Ministry, adding that it will also be used to provide financial aid to the COVID-19-affected families and individuals in the country.
Earlier in April, the World Bank forecast Georgian economic growth to slow down sharply this year, coming close to zero percent in 2020 due to the impacts of the COVID-19 pandemic and the challenging external environment.
The number of COVID-19 cases in the country reached 721 on Thursday, according to the Georgian Government.