AIIB Agrees to Lend Turkey 70 million Euros to Fight COVID-19

The Asian Infrastructure Investment Bank, backed by China, has said it will loan Turkey 70 million euros, equivalent to $ 83.37 million, to help it cope with the Covid-19 pandemic.

A bank statement said that the European Bank for Reconstruction and Development will participate in financing the project, which aims to increase the capacity of public hospital infrastructure.

This loan is part of a $ 13 billion financing facility from the Asian Infrastructure Investment Bank to help the public and private sectors respond to the pandemic.

The bank had previously approved loans totaling $ 500 million to a development bank in Turkey through this facility.