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HSBC channelled USD 185 million to Bio Farma for COVID-19 vaccine import

28 September 2021 19:44

JAKARTA. PT Bank HSBC Indonesia had been disbursing financing of USD 185 million to PT Bio Farma (Persero) to import COVID-19 vaccines since December 2020.

Francois de Maricourt, President Director of HSBC Indonesia, believed that this loan facility would facilitate the Indonesian government in distributing COVID-19 vaccines. “The supply and access to vaccines are still a challenge that Indonesia has to face,” he stated in the official announcement earlier today (28/9).

The loan facility from HSBC Indonesia was given to Bio Farma gradually. In February 2021, the distributed financing facility amounted to USD 100 million, which was well spent on importing 50 million doses of Oxford AstraZeneca vaccines.

Additionally, other facilities amounted to USD 35 million and USD 50 million, both of which were given on two different occasions. These facilities were allocated to import Sinovac vaccines.

IGN Suharta Wijaya, Financial Director of Bio Farma, confirmed that the loan facility by HSBC Indonesia was channelled out on a clean basis. It means that the company did not need to submit its assets as collateral for this financing facility. (KR/ZH)

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