HSBC and Asian Development Bank join forces in $300 million vaccine financing


Source: upnewsinfo.com upnewsinfo.com

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© Reuters. FILE PHOTO: Workers place Sinovac COVID-19 vaccine vials in trays at Butantan biomedical production center LONDON (Reuters) – HSBC and the Asian Development Bank (ADB) will provide a combined $300 million in financing to help Asia’s supply chains boost manufacturing capacity for COVID-19 vaccines, the two lenders said on Friday. The initiative builds on a risk-sharing scheme the banks launched in July to help to fund suppliers of personal protective equipment (PPE) as they and vaccine makers race to meet global demand that outstrips supply. By leaning on the ADB’s sovereign-level credit rating, private sector lenders such as...