Refinancing Facility For Combating COVID -19 (RFCC)
AKBL, under the directives of SBP, to combat the impact of COVID-19, AKBL, under SBP refinance facility, is providing a time bound emergency support for hospitals & medical centers by providing refinance facility to develop capacity for treatment of infected patients of COVID 19.
Scope & Eligibility Criteria
Long term finance facility for purchase of new imported and locally manufactured medical equipment to be used for combating COVID-19. All hospitals and medical centers registered with respective provincial/federal agencies/commissions engaged in controlling and eradication of COVID-19 will be eligible under the facility.
Maximum financing limit
Rs.500 Million (per Hospital/Medical Centre)
Tenor
5 years including grace period of up to 6 months
Civil Work
Up to 100% cost of civil works for setting up of isolation wards only
End User Rate
Maximum 3% p.a
Repayment
Quarterly/ half-yearly
Validity of the facility
30th September, 2020
Security / Risk coverage
For eligible Borrowers as per agreed arrangement with bank
Terms & Conditions
Approval of loan will be subject to bank’s internal credit criteria
This scheme is being launched in accordance to following SBP Circulars:
