International banking group Standard Chartered will commit $1-billion in financing for companies that provide goods and services to help in the fight against Covid-19, and those planning the switch into making products that are in high demand to fight the worldwide pandemic, the bank announced on March 30.
The bank intends to provide, at preferential rates, at least $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.