CORRECTED-Alibaba offers $2.86 bln in loans to firms hit by coronavirus outbreak

(Corrects name of Ant Financial unit to MYBank, not WeBank) SHANGHAI, Feb 10 (Reuters) – Alibaba Group Holdings said on Monday its affiliate Ant Financial’s MYBank 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. Alibaba made the announcement in a statement posted on its official Weibo account. The loans will carry low interest rates, it added. ($1 = 6.9809 Chinese yuan renminbi) (Reporting by Brenda Goh; Editing by Edmund Blair)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s