UOB's value chain financing sees doubling of clients in H12020

Singapore

UOB on Monday said it has seen a doubling in the number of construction firms obtaining loans under value chain financing (VCF) in the first six months of the year, as compared with the end of 2019.

The growth was driven by the increase in sub-contractors and suppliers obtaining loans under VCF, as part of tie-ups between their main contractors or project owners and the bank to help ease financing challenges brought about by Covid-19, UOB said.