India Exim Bank and Japan Bank for International Cooperation (JBIC) on Monday concluded $100 million loan agreement to support the India’s Covid-related healthcare sector, including but not limited to vaccine manufacturers, pharmaceutical companies, manufacturers of personal protective equipment, medical oxygen or other medical devices, hospitals, and more.
The agreement was concluded along with three Japanese private financial institutions, namely, MUFG Bank, Ltd., the Bank of Kyoto, Ltd., and the Hachijuni Bank, Ltd., on the side-lines of the Quad Leaders’ Summit, according to an official statement.
Through this facility, India Exim Bank and JBIC will jointly work towards expanding safe and effective manufacturing of Covid-19 vaccines and related pharmaceutical and healthcare products in India.
The development finance institution has been supporting the healthcare sector and all the segments in the pharmaceutical value chain. Apart from supporting domestic expansion projects of the companies in these sectors, the instituion has also supported the overseas endeavours of various Indian companies in the healthcare sector (including hospitals and healthcare facilities, pathological labs, and related training/education services), pharmaceutical companies (including manufacturing of bulk drugs and formulations), and biosimilar/ biopharma (including life sciences) companies, among others.
Additionally, India Exim Bank has been supporting research and development, new product development and other related areas.
India Exim Bank, established in 1982, aims to promote India’s international trade and investment. The bank offers Indian companies a comprehensive range of products and services, supported by analysis and research, with a view to enhancing their international competitiveness. Business Today