State Bank reinforces its support to health sector in fight against COVID-19

Karachi, May 01, 2020 (PPI-OT): In the background of rising cases of COVID‐19 in the country and with the need to strengthen health sector in fight against COVID‐19, SBP today enhanced financing limit of a single hospital/ medical center under its Refinance Facility for Combating COVID ‐19 (RFCC) from Rs. 200 million to Rs. 500 million. RFCC is an emergency funding facility to support hospitals/medical centers to develop their capacities for treatment of infected patients of COVID‐19. The financing under this facility is being made available by State Bank at 0% to banks that can charge a maximum rate of 3% per annum to hospitals / medical centers.

State Bank has been continuously improving features of this Facility to ensure timely financial support to hospitals/medical centers engaged in combating COVID‐19. So far, financing of Rs. 2.2 billion for 11 hospitals/medical centers has been approved whereas financing requests of Rs 3.6 billion for 23 hospitals/medical centers are being processed by the banks. With today’s enhancement of financing limit, it is expected that large scale facilities will be created for treating COVID‐19 patients by using subsidized funding being extended under this Facility.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk