Garment 10 Joint Stock Company (Garco 10) recently received a drawdown of VND 100 billion ($4.3 million) from Standard Chartered Vietnam’s $1-billion COVID-19 financing commitment announced. The bank in March committed to provide not-for-profit financing to companies that provide goods and services to help combat the novel coronavirus pandemic.
The credit limit was extended to Garco 10 as working capital for the production of medical and cloth masks to meet the increasing global demand for personal protective equipment (PPE), a Vietnamese newspaper reported citing the bank.Garment 10 Joint Stock Company (Garco 10) recently received a drawdown of VND 100 billion ($4.3 million) from Standard Chartered Vietnam's $1-billion COVID-19 financing commitment announced. The bank in March committed to provide not-for-profit financing to companies that provide goods and services to help combat the novel coronavirus pandemic. #
Companies within the scope of this financing commitment include manufacturers and distributors in the pharmaceutical industry and healthcare providers, as well as non-medical companies that offer products including ventilators, face masks, protective equipment, sanitisers and other consumables.
Organisations from other sectors that are planning to add manufacturing capabilities for such products are also eligible to apply for the programme.
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