AKIPRESS.COM - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of $100 million to help Mongolia battle the coronavirus pandemic, the bank said on Friday.

The project, cofinanced by the Asian Development Bank, will support a government program covering public health funding, protection of vulnerable groups, support for businesses and fiscal stimulus measures, the bank said in a statement.

The loan is part of the AIIB’s $10 billion funding facility to help public and private sectors fight the outbreak.