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

Countries
  • 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
Proposed
Bank Risk Rating
C
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.
Borrower
Government of Pakistan
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
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)

Co-financing:
Asian Development Bank US$ 500 million

Contact Information

Asian Infrastructure Investment Bank
Shakeel Khan, Principal Investment Operations Specialist
Investment Operations Department, Region 2
skhan@aiib.org

Asian Development Bank
Hiranya Mukhopadhyay, Principal Public Management Specialist,
Public Management, Financial Sector, and Trade Division,
Central and West Asia Department
hmukhopadhyay@adb.org

Borrower
M. Aslam Chaudhary
Joint Secretary, China/AIIB, Economic Affairs Division, Ministry of Economic Affairs Division.
aslam26@gmail.com

Implementation Agency
Aamir Nazir Gondal, Joint Secretary,
External Finance Policy, Ministry of Finance, Finance Division
js.efp@finance.gov.pk

ACCOUNTABILITY MECHANISM OF AIIB