The Beijing-headquartered Asian Infrastructure Investment Bank has approved a $500m loan to support Pakistan’s efforts to control its Covid-19 outbreak and reduce its immediate social and economic impacts.
The loan follows the approval in April by the IMF of a $1.4bn emergency loan to meet the country’s urgent balance of payment needs stemming from the outbreak of the Covid-19 pandemic.
The IMF said at the time it would only resume discussions on the $6bn bailout it approved last year after the threat of the pandemic receded.
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