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China-based AIIB aims to launch emergency relief fund

Multilateral bank's crisis reserve comes as it wraps up COVID-19 recovery facility

The Beijing-based Asian Infrastructure Investment Bank (AIIB) started operations in 2016 with a focus on funding sustainable, green infrastructure in developing countries.   © Reuters

HONG KONG -- The China-led Asian Infrastructure Investment Bank (AIIB) is planning an emergency relief fund for member countries affected by natural disasters and climate change, as its COVID-19 recovery facility winds up this year.

The multilateral bank is in talks with members about the crisis response facility which would supply them with financial assistance, said Vice President and Corporate Secretary Ludger Schuknecht.

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