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The Shanghai-based New Development Bank (NDB) is considering to provide an emergency loan to China to support its prevention and control measures against the COVID-19, a senior executive said.
The potential NDB Emergency Assistance Program would provide financial support for three epidemic-hit Chinese provinces – Hubei, Guangdong and Henan, the bank's vice president Zhu Xian said during a recent interview with Xinhua News Agency.
The NDB was established by the BRICS nations – Brazil, Russia, India, China and South Africa – in 2015.
According to Zhu, the program would fund not only public health expenditures related to the anti-epidemic fight, but also financial gaps in the urgent purchase of medical and health supplies, the construction of hospitals and isolated facilities and the production of supplies.
The potential loan amount would depend on the assessment of the actual needs and the final decision by the Chinese government and the NDB. And the bank has pledged to speed up its work procedures to offer its support.
The NDB commended China's actions and measures to fight against the COVID-19 and affirmed that it stands firm with the government and people at this important time through actions such as providing emergency financing.
