MOSCOW (Sputnik) – The People’s Bank of China on Saturday promised to help companies that have suffered losses from the coronavirus outbreak by lowering the interest rate on loans and increasing financial support for them.
The central bank also promised to maintain the stability of the interest rate on the money market after its opening on Monday and ensure its liquidity.
It will also allocate 300 billion yuan ($43.24 billion) in special refinancing loans for important national banks and some local banks from the Hubei province and other key provinces.
The new strain of coronavirus was first detected in the Chinese city of Wuhan, located in Hubei, in late December and has since spread to more than 20 countries. The virus has already killed 259 people in China and infected about 12,000 others. More than 100 cases of the new disease were registered outside of China.
The World Health Organization declared a global health emergency on Thursday in light of the outbreak.
Sourse: sputniknews.com
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