The bank intends to provide, at preferential rates, at least USD 1 billion of financing to those companies in the form of loans, import/export finance or the working capital facilities that they use for day-to-day business operations to help them tool up, and help existing manufacturers get their products to market.
Standard Chartered is also trying to identify companies that may wish to switch into or add anti-virus products to their output but haven’t indicated that they will do so at this stage.
All financing will be subject to companies having received regulatory approvals to manufacture the goods.
The bank will continue to serve all of its clients during what is a challenging period for all companies, from small businesses to large multinationals.
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