Pakistan: COVID-19 Active Response and Expenditure Support (CARES) (AIIB-000403)

  • Pakistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Government of Pakistan
The holder of the loan, grant, or other investment.
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,000.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 23, 2020

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Project Description

According to the bank's documents, "The Program's objective is to support GoP to mitigate the significant negative economic and social impacts caused by the COVID-19 pandemic. The Program will provide budgetary support to the GoP to effectively manage COVID-19 outbreak and reduce its immediate social and economic damages."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Asian Development Bank US$ 500 million

Contact Information

Asian Infrastructure Investment Bank
Shakeel Khan, Principal Investment Operations Specialist
Investment Operations Department, Region 2

Asian Development Bank
Hiranya Mukhopadhyay, Principal Public Management Specialist,
Public Management, Financial Sector, and Trade Division,
Central and West Asia Department

M. Aslam Chaudhary
Joint Secretary, China/AIIB, Economic Affairs Division, Ministry of Economic Affairs Division.

Implementation Agency
Aamir Nazir Gondal, Joint Secretary,
External Finance Policy, Ministry of Finance, Finance Division