Federal Minister for Economic Affairs Makhdum Khusro Bakhtiar says the COVID-19 pandemic has caused severe disruptions in the global economic system, stress on the health infrastructure and social distress.

Addressing the annual meeting of Asian Infrastructure Investment Bank through a video link, he said the impact is more pronounced in case of emerging markets and developing countries.

The Minister said in this backdrop, the COVID-19 Crisis Response Facility of AIIB, which was announced to support economies of member countries is highly commendable.