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

Credit: REUTERS/KHAM

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.

BEIJING, July 17 (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 VPB.HM 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 https://tmsnrt.rs/3aIRuz7 in an external browser.)

(Reporting by Gabriel Crossley)

((Gabriel.Crossley@thomsonreuters.com; +86 10 5669 2127;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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