Chinese cities grab $355m sovereign loan to revamp health infrastructure

This includes enhancing the treatment capacity of medical institutions to deal with epidemics.

The Asian Infrastructure Investment Bank (AIIB) has approved a sovereign-backed loan of $355m (RMB2.49b) to Beijing and Chongqing for upgrading the country’s public health infrastructure and providing emergency equipment and supplies, according to a press release.

These include upgrading their Centers for Disease Control and Prevention, enhancing the treatment capacity of medical institutions in dealing with epidemics, and providing emergency equipment and supplies to frontline public health workers to help contain the pandemic.

The project, to be supported by AIIB’s first emergency assistance loan, aims to strengthen the public health emergency response capacity in these municipalities.

“The outbreak of COVID-19 triggered China’s urgent financial need for support in strengthening its capacity in epidemic prevention and control. Cities with large floating populations like Beijing and Chongqing have particularly acute financial needs to address such challenges,” the bank said.