Finance Secretary Carlos Dominguez 3rd said on Friday the government was interested to tap the Asian Infrastructure Investment Bank’s (AIIB) planned $5-billion crisis recovery facility. In a statement on Friday, the AIIB announced that the facility’s creation was proposed to its board of directors. The facility could support emergency public health needs, such as health infrastructure for emergency preparedness and clients whose infrastructure investments are severely affected by the pandemic. It could also provide the financing needed to preserve the productive capacity of other productive sectors, including manufacturing, that have been hit by Covid-19. “The international community needs to come together to pool our resources to help the world navigate the current pandemic and economic upheaval.

Source: Manila Times April 03, 2020 17:26 UTC