Garco 10 accesses foreign credit to make anti-COVID-19 products
Standard Chartered announced on August 24 that the Garment 10 Corporation JSC (Garco 10) has become the latest to benefit from its global financing commitment of 1 billion USD to help fight COVID-19.
Workers of Garco 10 produce cloth face masks (Photo: VNA)
HCM City (VNA) - StandardChartered announced on August 24 that the Garment 10 Corporation JSC (Garco 10)has become the latest to benefit from its global financing commitment of 1billion USD to help fight COVID-19.
The bank will provide the garment maker with aloan of up to 100 billion VND (4.3 million USD) to fund the production ofmedical and cloth face masks to help meet demand for personal protectiveequipment.
CEO of Standard Chartered Bank Vietnam NiruktSapru said the bank pledges to make unceasing efforts to help in thecoronavirus fight, adding that the loan to Garco 10 reaffirms its commitment tosupporting domestic businesses in this regard.
Garco 10 General Director Than Duc Viet said thatgiven the unprecedented health challenges caused by the pandemic, high-qualitypersonal protective equipment plays an important role in guarding people’shealth and safety.
The company is helping to meet the urgent need aroundthe world for personal protective gear, and the Standard Chartered loan willhelp with the production of cloth and medical face masks, he noted.
In March, Standard Chartered launched a financialpackage with preferential interest rates to support suppliers of key productsand services in the COVID-19 battle, including producers and distributors ofmedicine and healthcare, along with non-healthcare companies that manufactureventilators, face masks, protective equipment, disinfectants, and anti-pandemicconsumer goods. Those in other sectors but planning to make products to helpfight COVID-19 can also benefit from the package./.
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Workers of Garco 10 produce cloth face masks (Photo: VNA) 
