BEIJING, July 3 (Reuters) – The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $500 million to two development banks in Turkey, to help ease liquidity issues caused by the COVID-19 pandemic.
The two borrowers, TÃ¼rkiye KalkÄ±nma ve YatÄ±rÄ±m BankasÄ± AS and TÃ¼rkiye SÄ±nai KalkÄ±nma BankasÄ±, plan to lend the borrowed funds to infrastructure companies, the bank said in a statement.
The loans are 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; Editing by Devika Syamnath)