July 17, 2020 / 3:52 AM / 19 days ago

China-backed AIIB approves $100 million loan to Vietnam bank for COVID-19 response

BEIJING (Reuters) - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $100 million to the Vietnam Prosperity Joint Stock Commercial Bank to help the bank lend more to private firms disrupted by the COVID-19 pandemic.

The project will be co-financed by the International Finance Corporation, the AIIB 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

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