Saturday, November 27, 2021

SBP announces ease in financing for health sector amid coronavirus outbreak

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KARACHI: State Bank of Pakistan (SBP) on Thursday announced more financial measures aimed at facilitating the health sector under Refinance Facility to Combat COVID‐19 (RFCC), ARY NEWS reported.   

According to a statement issued from the central bank, it said that since the outbreak of COVID‐19, the SBP has taken a number of measures to support the economy.

One of the earliest measures taken by the SBP was to support the hospitals, which have been at the forefront in combating the disease, by providing them a facility to meet their financial needs under RFCC on March 17.

Announcing further facilitation for the health sector, the top bank said that hospitals and medical centres engaged in fight against COVID‐19 will now be allowed to avail financing against their existing equipment and purchase of refurbished equipment as well, provided the same are used in creation of special facility/isolation ward to deal with COVID‐19.

Read More: SBP allows one year moratorium on consumer loans’ principle

Moreover, maximum coverage of 60 percent of civil works for setting up separate isolation facility, has also been enhanced to 100 percent.

Banks have been directed to ensure that financing extended under this facility is utilized for the intended purpose.

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