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Singapore's UOB allocates $2.2 billion for companies impacted by coronavirus

SINGAPORE (Reuters) - Singapore lender United Overseas Bank UOBH.SI (UOB) said on Wednesday it has allocated S$3 billion ($2.16 billion) to companies in the city-state as relief assistance to help tide them over during the coronavirus outbreak.

“In the face of the likely economic fallout and its impact on industries and businesses, UOB sees the need to help its corporate clients, in particular the SMEs (small-and-medium enterprises), in addressing their near-term liquidity needs,” it said in a statement.

Reporting by Anshuman Daga, editing by Louise Heavens

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