HSBC and the Asian Development Bank join forces to finance vaccines worth $ 300 million


Source: bollyinside.com bollyinside.com

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Buzz Staff 2021-04-08 “Right now demand for vaccines far outstrips supply and one of the challenges is that supply and distribution networks have to be formed, which requires a lot of liquidity,” said Surath Sengupta, global head of financial institutions at HSBC. 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, HSBC said. The lenders will offer funds through trade loans and invoice financing among other tools, Sengupta said, as countries across Asia try to shorten the usual multi-year time scale...