AIIB announces US$5 billion COVID-19 recovery fund

• 5 May 2020
• Construction Focus
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The Asian Infrastructure Investment Bank (AIIB) announced plans in April to launch a US$5bn crisis recovery fund to support a quick turnaround after the coronavirus pandemic.

The US$5bn fund is intended to meet emerging demand among its low-income members, whose economies could be hit the worst by the Coronavirus. Cash would be made available for health infrastructure, emergency plans, or industries hit by the pandemic

AIIB’s President Jin Liqun, was quoted as saying that “The international community needs to come together to pool our resources to help the world navigate the current pandemic and economic upheaval. AIIB is committed to playing its full part.

“I believe this new facility will help our clients to overcome immediate financial pressures and maintain critical long-term investments that otherwise may not be possible”

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