The SBP Allocates Over PKR 100 Billion for Manufacturing and Health Sectors, to Overcome Challenges Driven by the Coronavirus

On Tuesday, 17th of March 2020, The State Bank of Pakistan (SBP) announced that funds over PKR 100 billion have been set-aside as concessionary loans to support the country’s manufacturing and health sectors in defeating challenges caused by the Coronavirus.

Details of a Shariah compliant version of the same was also released.

The proposed scheme will see SBP re-financing banks, to provide financing for projects pertaining to the set-up of new industrial units, at a 7 percent maximum end-user rate for 10 years. The loan size per project has been capped at PKR 5 billion.

In a statement issued, SBP mentioned that the facility is open to all...