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NDB approves 7bn yuan loan to support China’s COVID-19 response

Mar 20,2020 |Print |Mail |Large    Medium    Small

On March 19, 2020, the Board of Directors of the New Development Bank (NDB) made a fast-track response and approved a 7 billion yuan Emergency Assistance Program Loan to China.  

The loan aimed to help provinces of Hubei, Guangdong and Henan with their  urgent and unexpected public health expenditures on controlling COVID-19 , including the purchase of equipments and emergency supply materials and the construction of hospitals, wards and labs. The loan has a 30-year term, with features of low cost, quick disbursement and long maturity.  

This is NDB’s first emergency assistance program in response to a pandemic outbreak in its member countries and is also the biggest loan provided to China by an international financial organization to combat the pandemic.