China-backed AIIB to lend $500mln to two Turkish development banks

The loans are part of the AIIB's $10bln funding facility to help public and private sectors fight the outbreak

  
The logo of Asian Infrastructure Investment Bank (AIIB) is seen at its headquarters in Beijing January 17, 2016.

The logo of Asian Infrastructure Investment Bank (AIIB) is seen at its headquarters in Beijing January 17, 2016.

REUTERS/Kim Kyung-Hoon

BEIJING- 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, Türkiye Kalk?nma ve Yat?r?m Bankas? AS and Türkiye S?nai Kalk?nma Bankas? , 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) ((Gabriel.Crossley@thomsonreuters.com; +86 10 5669 2127;))

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