Low-cost financing for medical equipment manufacturers.


KARACHI -- The State Bank of Pakistan (SBP) on Monday expanded the scope of the Refinance Facility to Combat Covid-19 (RFCC) to manufacturing sector producing medical equipment and accessories.

Earlier, the facility was limited to expansion and establishment of hospitals.

'The scheme now allows manufacturers of protective gears and equipment, including items such as masks, dresses, testing kits, hospital beds, ventilators etc. to avail financing under RFCC,' said the SBP on Monday.

It said the decision was taken in view of the encouraging response for the facility and the potential to help the development of health facilities in the country.

The SBP on Mar 17 introduced the RFCC to support hospitals and health sector fighting against the Covid-19.

Under the scheme, banks will give out concessional loans at a maximum end-user rate of three per cent for five years to hospitals and medical centers to purchase medical equipment and set up isolation wards to fight against Covid-19.

As of July 2, Rs6.4...

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