Exim Bank signs $100 million loan agreement with Japanese banks to fund healthcare projects

The Export-Import (Exim Bank) on Monday said it had concluded a $100 million loan agreement with Japan Bank for International Cooperation (JBIC), along with three Japanese private financial institutions MUFG Bank, the Bank of Kyoto and the Hachijuni Bank on the side-lines of the Quad
Summit.

The purpose of the loan is to support the Indian healthcare sector related to combating Covid-19, including but not limited to vaccine manufacturers, pharmaceutical companies, manufacturers of personal protective equipment, medical oxygen or other medical devices, hospitals, and other related activities.

Exim Bank 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 Exim Bank has also supported the overseas endeavours of various Indian companies in the healthcare sector including hospitals and healthcare facilities, pathological labs, and related training services, pharmaceutical and biotech manufacturing," Exim Bank said in a release.

Exim Bank said it also supports research and development, new product development and other related areas.