February 10, 2020 / 10:20 AM / 2 months ago

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)

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