The Asian Infrastructure Investment Bank (AIIB), via its COVID-19 crisis recovery facility, has approved a €91.34m loan to help finance the Government of Georgia’s health infrastructure.

AIIB said the loan, which is jointly financed with the World Bank, will finance Georgia’s “health infrastructure and social protection measures for COVID-19 preparedness”.

Konstantin Limitovskiy, AIIB VP in charge of investment operations, said: “The project’s emergency healthcare assistance and social protection measures are closely interlinked. They aim to support Georgia’s pandemic response and its efforts to protect the most vulnerable people affected by COVID-19.

“Adapting to members’ immediate healthcare, social and economic needs, AIIB will continue to work with the international community to provide effective financing options to support their response to the current challenges.”

AIIB’s COVID-19 crisis recovery facility, created as part of the coordinated international response to counter the COVID-19 crisis, has an initial size of $5-$10bn (€4.6bn-€9.2bn) to support AIIB members’ urgent economic, financial and public health financing needs and quick recovery from the crisis.

AIIB said it is currently reviewing projects from a number of members.

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