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AIIB approves  $250m loan for BD to fight Covid-19

Published : Friday, 22 May, 2020 at 12:00 AM  Count : 232

The Asian Infrastructure Investment Bank (AIIB) has approved a USD 250 million loan for Bangladesh as the country grapples with the fallout of novel coronavirus.
The loan, co-financed with the Asian Development Bank (ADB), is part of a programme to provide the government of Bangladesh with budget support to mitigate the adverse effects of the pandemic on the country's poor and most vulnerable, particularly those affected by job losses in small and medium enterprises and the informal sector, as well as strengthen social safety nets.
The programme also has specific targets to support women in export-oriented industries. Bangladesh is extremely vulnerable to the Covid-19 virus given that it has one of the highest population densities in the world, AIIB said on Thursday.
Nearly 15 percent of households continue to live in poverty, with a high share of households living in informal settlements, and more than 80 percent of the workforce employed in the informal sector, all of which make it difficult and expensive to maintain social distancing measures to contain the spread of the virus, it said.      -UNB

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