Asian Infrastructure Investment Bank (AIIB) said on Thursday it had approved $250 million loan to Bangladesh to help the Country cope with Coronavirus Pandemic.
The Project, which will be co-financed by the Asian Development Bank, is intended to help Bangladesh’s government with budget support to help the country’s most vulnerable, according to a statement.
It is intended to strengthen social safety nets and mitigate the effects of job losses in small and medium sized companies and the informal economy.
“Bangladesh is extremely vulnerable to the COVID-19 virus given that it has one of the highest population densities in the world,” said the release.
The loan is part of a $10 billion funding facility the AIIB has announced to help public and private sector entities deal with the Pandemic.