AIIB increased multinational assistance to Pakistan, Sri Lanka

BEIJING-President of Asian Infrastructure Development Bank (AIIB) Jin Liqun has said that the bank has increased its multilateral assistance to countries including Pakistan and Sri Lanka. “While liquidity continues to tighten, we need to help those countries that are insolvent. The Asian Infrastructure Investment Bank stands ready to support the world’s most vulnerable countries, and we have increased our multilateral assistance to countries including Pakistan and Sri Lanka. In addition, we are considering post-earthquake support for Turkey,” he said during the China Development Forum 2023. Jin said that the international community is confronted with multiple risks and challenges. Prolonged high inflation, tight labour markets, and spillover effects from high commodity prices are likely to keep central banks tightening monetary policy all over the world, China Economic Net (CEN) reported on Tuesday. (The Nation)