STATE BANK OF PAKISTAN

INFRASTRUCTURE, HOUSING & SME FINANCE DEPARTMENT

I.I. CHUNDRIGAR ROAD
KARACHI

IH&SMEFD Circular Letter No. 16 July 06, 2020

The Presidents/CEOs,
All Banks/DFIs

Dear Sirs/Madams,

Refinance Facility for Combating COVID-19 (RFCC)/ Islamic Refinance

Facility for Combating COVID-19 (IRFCC)

Please refer to IH&SMEFD Circular Nos. 03 and 04 of 2020 dated March 17, 2020, followed by
IH&SMEFD Circular Letters Nos. 06 and 08 of 2020 regarding State Bank of Pakistan’s Refinance
Facility on the captioned subject.

2. In order to facilitate entities planning to engage in manufacturing of mask/protective dresses/testing

kits/hospital beds/ventilators and other items to combat COVID-19, it has been decided to allow subject
facilities to such entities.
3. Further, in view of health emergency in the country and to facilitate hospitals in entertaining
patients even other than those of COVID-19, SBP has extended the scope of RFCC/IRFCC to cover
setting up or expansion of the existing hospitals and medical centers subject to the following minimum
conditions:

Registration with respective Provincial/Federal

50 Bedded tertiary care hospital.
agencies/commissions.

In house Laboratory facility including

24 hours fully equipped emergency. Radiology/ CT/MRI/Ultrasound/ angiography/
angioplasty.

ICU/CCU with ventilators attached to each bed Operation theaters and OPD facility

4. For setting up new hospitals under para 3 above, payments will be released by the banks on
completing relevant milestones. Further, the scheme for setting up new hospitals will be valid uptill June
30, 2021.

5. All other terms and conditions of the captioned refinance facilities shall remain unchanged.

Yours Sincerely,

Sd/-
(Dr. Mian Farooq Haq)
Director