China-backed AIIB proposes $5 bln funding line for coronavirus crisis

BEIJING (Reuters) - Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it was proposing to its board to form a $5 billion financing facility to help public and private sector entities navigate 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. The facility will aim to help efforts to deal with both the..