Alibaba offers $2.86 billion in loans to firms hit by coronavirus outbreak

Alibaba offers $2.86 billion in loans to firms hit by coronavirus outbreak
  • Clock-gray 18:50
  • calendar-gray 10 February 2020

Alibaba Group Holdings said on Monday its affiliate Ant Financial’s WeBank unit would offer 20 billion yuan ($2.86 billion) in loans to companies in China in light of the coronavirus outbreak, with preferential terms for Hubei firms, APA reports citing Reuters.

Alibaba made the announcement in a statement posted on its official Weibo account. The loans will carry low interest rates, it added.

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