China-backed AIIB approves $100 million loan to Vietnam bank

China-backed AIIB approves $100 million loan to Vietnam bank

Photo: AIIB website

The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $100 million to the Vietnam Prosperity Joint Stock Commercial Bank to help the bank lend more to private firms disrupted by the COVID19 pandemic.

The project will be co-financed by the International Finance Corporation, the AIIB said in a statement.

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