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

Your email address will not be published. Required fields are marked *