Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it had approved a $750 million loan to the Philippines to help the country cope with the coronavirus pandemic.
The project, which will be co-financed by the Asian Development Bank, is intended to increase testing capacity, support vulnerable sectors like agriculture, and provide emergency assistance to poor households, according to a statement.
Over one million small enterprises will also benefit from wage subsidies as part of the project, it said. The loan is part of a $10 billion funding facility the AIIB has announced to help public and private sector entities deal with the pandemic.
Please follow us on Google to support usUnited States Latest News, United States Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
Jay Inslee Says Trump Should Be 'Removed From Office' for His Disastrous COVID-19 ResponseThe Washington state governor compares Trump’s coronavirus denialism to FDR “saying that Pearl Harbor was a hoax and that the Japanese were going to surrender miraculously the next Mond…
Read more »
How Robin Williams' Son Zak Is Honoring His Father with New Mental Health Organization InseparableZak Williams is helping launch a new mental health program, Inseparable, in response to COVID-19
Read more »
Writer predicted killer pathogen similar to coronavirus 8 years agoWriter David Quammen predicted a pandemic like Covid-19 in his 2012 book. 'I was listening to a select group of shrewd infectious disease scientists, and they were saying... 'It's coming. It will be a virus out of an animal, possibly a bat.'' CNNTownHall
Read more »
May 28 coronavirus news“When Covid happened, my heart went out and I just knew that people were suffering and they’re suffering alone in isolation.” - Actress Taraji P. Henson on ending the stigma of mental health in the African American community. CNNTownHall
Read more »