Standard Chartered announces measures to fight coronavirus

Staff Correspondent | Published: 16:17, Apr 08,2020

 
 

Standard Chartered recently announced a set of global measures to serve the present and long-term needs of its clients, communities and employees in the face of the COVID-19 pandemic, said a press release.

The bank committed US$1 billion to finance companies tackling COVID-19 and launched US$50 million as community assistance fund.

An US$1 billion financing commitment was made for companies across all its markets that are set to provide goods and services to help fight COVID-19 and those planning to switch to making products that are in high demand during the COVID-19 emergency.

An USD50 million global fund was promised to help communities affected by COVID-19 across its global footprint. The group will immediately donate $25 million to support emergency relief in its most affected markets. The additional $25 million will help communities over the medium term to recover from the economic impact of the virus.

Standard Chartered will also match contributions made by its employees and other donors to meet the $50 million target.

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