China-backed AIIB proposes $5 billion financing line to deal with coronavirus crisis
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BEIJING (Reuters) - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it was proposing to its board to form a $5 billion (4.04 billion pounds) financing facility to help public and private sector entities amid the coronavirus pandemic. The proposed crisis recovery facility is in response to urgent economic, financial and public health pressures, and to support a quick recovery after the current crisis, AIIB said in a statement. It is also part of the coordinated..