Dentons has advised HSBC on its US$1.2 billion joint programme with the Asian Development Bank (ADB) to support the supply chains of COVID-19-related products in Asia and the Pacific.

The joint programme will support up to US$1.2 billion a year in trade by companies producing goods crucial to the ongoing fight against the pandemic in the region. HSBC and the ADB have already mapped over 10,000 suppliers who are developing critical products. The sectors being targeted include pharmaceuticals and apparel, as well as critical medical supplies, providing much-needed support also for small- and medium-sized companies in Asia and the Pacific.

Natalie Blyth, global head of Trade and Receivables Finance at HSBC, commented, “Trade has a critical role to play in both the frontline fights against COVID-19 and in supporting the global recovery. This agreement will help ensure that trade finance gets to where it is needed and when to support the production and distribution of essential medical supplies and the return to growth.”

Howard Barrie, UK Banking partner at Dentons, said, “This transaction is just one of many examples of how Dentons has globally been helping our clients and communities address the challenges COVID-19 has presented. By working together, whether it is on a vaccine or new financing programmes like this, we can create solutions and support each other through this period.”

The Dentons team was led by Banking partner Howard Barrie and supported by associate Ali Stopford, with advice on financial regulation by partner Michael Wainwright and associate Jessica Cooke in London and partner Julianne Doe and associate Ivan Tsang of Dentons Hong Kong.