COVID-19: Indonesia to Receive USD 1 Billion in Loans from AIIB

According to DJ Pandian, Vice President of the Asian Infrastructure Investment Bank (AIIB), a total of USD 1 billion has been allocated by AIIB to assist Indonesia in its fight against COVID-19. As part of a co-financing program with the World Bank (WB) and the Islamic Development Bank (IsDB), the first disbursement of the loan will amount to USD 250 million.

The remaining USD 750 million will be offered as part of AIIB’s co-financing program with the Asian Development Bank (ADB), and will go towards funding Indonesia’s economic relief and social safety net programs.

With Indonesia reporting over 13,000 confirmed COVID-19 cases as of 8th of May 2020, the Government of Indon...