As global events continue to affect the way customers spend their money in 2023, Amazon has secured an $8 billion loan in anticipation of market headwinds. The loan (opens in new tab), active from 3 January 2023, has been provided by a consortium including Singaporean DBS Bank and Japanese Mizuho Bank, with the company saying it will be used to strengthen Amazon’s financial position and provide a buffer against any potential economic downturn. The revelation will likely come as a surprise to customers and peers alike, as Amazon has largely performed well during the recent times of economic uncertainty caused by the coronavirus pandemic, thanks to a surge in ecommerce.
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