AIIB Allocates €91 mln for Georgia's COVID-19 Response

A loan agreement was signed between Georgia and the Asian Infrastructure Investment Bank (AIIB) for a rapid response project against COVID-19, the Ministry of Finance reports. 

The document was signed by the Minister of Finance, Ivane Machavariani and the Vice President of the Asian Infrastructure Investment Bank, Konstantin Limitovskiy.

The financial resource allocated by the Asian Infrastructure Investment Bank is the part of the loan agreement the World Bank's "Rapid Response Project against COVID-19” signed on May 1, providing $80 million in financial support to Georgia.

"The amount of budget support is EUR 91,340,000 and it aims to prevent, identify and address the threats posed by the COVID-19 pandemic in Georgia and to strengthen national public health systems," the Ministry said. 

By Ana Dumbadze