Philippines raises $6.5B for COVID-19 response
The Philippine government has raised over $6.5 billion from loans and grants to fund its COVID-19 response and economic recovery efforts.
Finance Secretary Carlos Dominguez signed a $750 million loan agreement with the Asian Infrastructure Investment Bank (AIIB) on June 5, which will be fully disbursed within the month.
The AIIB loan is part of a co-financing arrangement with the Asian Development Bank for the Philippines' COVID-19 Active Response and Expenditure Support program.
Dominguez thanked the AIIB and its president Jin Liqun for supporting the CARES program, which aims to help the country recover from the pandemic's impact.
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
Topics in this story
Explore more stories about these topics