Amidst the fallouts of the COVID-19 pandemic, which are posing now challenges to businesses including to the readymade garment industry of Bangladesh, the Standard Chartered Bank, in association with renowned global buyers and suppliers, has launched USD denominated pre-shipment loans to support the industry in successfully facing the pandemic-induced challenges.
Media reports maintained this adding this facility by the Standard Chartered Bank enabled easy access to funds for salary and other operating expenses through USD-denominated facility of low-cost financing with natural hedge against currency volatility, citing a press release issued in this direction.
The press release further added that Standard Chartered leveraged its global network to collaborate with select large global buyers and swiftly arranged regulatory approvals to introduce a unique USD-denominated pre-shipment finance loan even as the coronavirus outbreak has disrupted the apparel supply chain across the world.
