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


Source: lse.co.uk lse.co.uk

Key Topics in this News Article:

News Snapshot:

LONDON, April 9 (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 HSBC can lend more easily to companies in the complex chain of vaccine supply production,...