The Chinese-sponsored Asian Infrastructure Investment Bank (AIIB) has said it will provide a US$65 million loan to the Kingdom to restore rural productive capacity and support the government’s Covid-19 crisis response.
The loan project will be backed by the AIIB’s Covid-19 Crisis Recovery Facility (CRF) and will centre on investments in sustainable and climate resilient infrastructure in targeted rural areas, it said in a project summary published on September 4.
It said the announcement comes in response to the government’s request to the financial assistance “National Restoration of Rural Productive Capacity Programme”, which it provides under its Special Fund Window (SFW).
