India Exim Bank and JBIC reach $100m loan deal to support healthcare sector

0

Export-Import Bank of India (India Exim Bank) has announced that it has entered into a $100 million loan agreement with Japan Bank for International Cooperation (JBIC), as well as three Japanese private financial institutions, namely MUFG Bank, Ltd. ., Kyoto Bank, Ltd., and Hachijuni Bank, Ltd. on May 23, 2022, on the sidelines of the Quad Leaders’ Summit.

The purpose of this facility is to support India’s healthcare sector related to the fight against COVID-19, including but not limited to vaccine manufacturers, pharmaceutical companies, protective equipment manufacturers individual, medical oxygen or other medical devices, hospitals and other related activities, he said in a statement.

As a prelude and to better understand the market requirements of this sector, India Exim Bank and JBIC organized a roundtable in collaboration with the Pharmaceuticals Export Promotion Council of India (Pharmexcil) in July 2021, with the participation of the CEOs of some of the most large Indian companies. pharmaceutical and healthcare companies.

To raise awareness of the financing structures available to these companies in India, India Exim Bank and JBIC jointly organized another program in collaboration with Pharmexcil in September 2021.

Through this facility, India Exim Bank and JBIC will jointly work to expand safe and efficient manufacturing of COVID-19 vaccines and related pharmaceuticals and healthcare products in India, he said.

India Exim Bank, established in 1982, is committed to promoting India’s international trade and investment. The Bank offers Indian businesses a comprehensive range of products and services, backed by analysis and research, to enhance their international competitiveness, the statement added.

(To receive our daily E-paper on WhatsApp, please Click here. To receive it on Telegram, please Click here. We allow the PDF of the document to be shared on WhatsApp and other social media platforms.)

Posted: Monday, May 23, 2022, 7:03 PM IST

Share.

Comments are closed.