The Import Bank of India (India Exim Bank), along with Japan Bank for International Cooperation (JBIC) and Pharmaceutical Export Promotion Council of India (Pharmexcil) organised a webinar recently on ‘Innovative Funding Structures and Assistance for Manufacturers of COVID-19 related Pharma Products,’ according to a statement.
The statement notified that the webinar was part of the series of market interactions by India Exim Bank to address the requirements of pharma companies working in the COVID ecosystem. In its first edition, India Exim Bank, JBIC and Pharmexcil had come together and organised a roundtable with the Indian COVID vaccine manufacturers (existing and potential) to discuss about their financing needs and the financing options available to them. The discussions have generated considerable interest amongst the vaccine manufacturers, in pursuing the capacity creation/expansion and possible opportunities in other markets as well. The webinar was well attended by nearly 100 participants from the pharma industry.
The webinar dwelled upon several possible financing options by India Exim Bank and JBIC for pharma companies which have a critical role in combating COVID-19. India Exim Bank offers a wide range of financing products for pharma companies, including trade finance for the importers (both directly as well as through overseas banks or FIs) and exporters, term loans for research and development, investment in new capacity as well as additional capacity, and support to vendors of pharma companies, through the Bank’s recently launched Ubharte Sitaare Programme. India Exim Bank, along with JBIC, will offer competitive financing options to pharma companies working in the COVID ecosystem, added the statement.
It further mentioned that the association with JBIC comes in the backdrop of QUAD members, (comprising the USA, Australia, Japan and India), launching a landmark partnership to further accelerate the end of the COVID-19 pandemic. Together, QUAD leaders are taking the shared action necessary to expand safe and effective COVID-19 vaccine manufacturing.