AIIB to scale up investment in public health infrastructure

Source: Xinhua| 2020-03-26 17:41:34|Editor: huaxia

BEIJING, March 26 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) has announced a plan to increase infrastructure investment in public health, healthcare and information and communications technology to support members impacted by the COVID-19 outbreak.

The bank said it will announce a number of public health infrastructure financing options for its members in the coming days and weeks, to help build up economic resilience and mitigate the impact of future health crises.

A recent AIIB analysis highlighted a direct correlation between the quality of overall infrastructure and health security, indicating that infrastructure development is a key part of health security and epidemic preparedness.

The bank said lower-income countries are particularly vulnerable as layering an economic downturn and additional fiscal stresses from COVID-19 on top, many of them will fall short of the 6 percent to 10 percent GDP investment needed to maintain economic growth.

Adjusting to the new reality, the bank will work to provide scaled up and targeted investment in critical sustainable infrastructure, AIIB President and Chair of the Board Jin Liqun said.

"There has never been a greater need for a multilateral and truly global coordinated effort to ease the economic burden experienced by all," Jin said.