Standard Chartered commits millions to ME Covid fight

Standard Chartered’s global $1 billion commitment in the fight against Covid-19 will include support to healthcare throughout the UAE.

The bank’s support around the world has provided businesses and medical groups with access to attractive funding options. This includes a commitment of $25 million being made available to Mediclinic Middle East, a leading UAE healthcare services provider, converting a portion of its existing funding to the Covid support facility.

As part of the group’s broader $1 billion commitment, the $25 million funding marks the largest disbursal the bank has facilitated across the Middle East and one of the largest globally. Mediclinic Middle East, last year provided care to three million outpatients and 79,000 inpatients across its seven hospitals, 18 outpatient clinics and two-day case clinics across the UAE.

Standard Chartered launched its commitment to supporting companies aiding the fight against Covid-19 in March, providing funding options for the delivery of products and services, which have played a crucial role in reducing the impact of the global pandemic.

From medical equipment and investments in personal protective equipment (“PPE”), businesses have been able to produce added resources thanks to the bank’s commitment, which has helped over 15 businesses throughout Africa and the Middle East region (AME). -- Tradearabia News Service

News Source: http://www.tradearabia.com/news/HEAL_373536.html