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AIIB approves loan to Georgia for COVID-19 response

Finance Materials 21 May 2020 19:02 (UTC +04:00)
AIIB approves loan to Georgia for COVID-19 response

BAKU, Azerbaijan, May 21

By Tamilla Mammadova – Trend:

Asian Infrastructure Investment Bank (AIIB) has approved 91-million euros loan to Georgia for COVID-19 response, Trend reports referring to the press service of the Ministry of Finance of Georgia.

As reported, a loan agreement was signed on May 21 between Georgia and AIIB.

According to the press service, the financial resources allocated by the Asian Infrastructure Investment Bank are part of the loan agreement with the World Bank made on May 1 by which the World Bank allocated $80 million to Georgia. This support was provided under the World Bank’s Fast Track COVID-19 Facility.

The ministry explained that the budget support stands at 91.34 million euros and aims to prevent, identify, respond to and address the threats posed by the coronavirus as well as to strengthen national public health systems.

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