Exim Bank and a Japanese bank sign a $100 million loan agreement to finance health projects
MUMBAI: Export-Import Bank of India (Exim Bank) announced on Monday that it has signed a $100 million loan agreement with the Japan Bank for International Cooperation (JBIC), as well as three Japanese private financial institutions — MUFG Bank Ltd, Bank of Kyoto Ltd and Hachijuni Bank Ltd – aimed at supporting India’s healthcare sector in the fight against Covid-19.
The deal was signed on Monday on the sidelines of the Quad Leaders’ Summit, Exim Bank said in a statement.
“The purpose of this facility is to support the Indian healthcare sector related to the fight against Covid-19, including but not limited to vaccine manufacturers, pharmaceutical companies, medical equipment manufacturers personal protection, medical oxygen or other medical devices, hospitals and other related activities.” It said.
The development finance institution supports the health sector and all segments of the pharmaceutical value chain.
Apart from supporting the domestic expansion projects of companies in these sectors, the bank has also supported the overseas efforts of various Indian companies in the healthcare sector, pharmaceutical companies and biosimilar/biopharmaceutical companies (including science life), among others.
In addition, it has supported research and development, new product development and other related fields, he added.