Ani |Updated on: September 13, 2024 08:14 IST
New Delhi (India), September 13 (ANI): The United States International Development Finance Corporation has announced a new investment of USD 70 million in India’s private sector.
A Thursday statement from the U.S. International Development Finance Corporation (DFC) said these investments will help the U.S. and Indian governments focus on strengthening health systems, particularly vaccines, expanding access to affordable housing, and increasing support. The aim is to advance key priorities. For small and medium-sized businesses.
“Our partnership with India is both local and global. DFC is committed to delivering tangible development impact in communities across India and is committed to partnering with India’s private sector to address some of the world’s most pressing challenges. ” said Nisha Biswal, Deputy CEO, DFC. .
While in India, CEO Biswal provided a $20 million loan to Panacea Biotech Limited to fund expanded production of a pediatric hexavalent vaccine to prevent diphtheria, tetanus and polio. signed a ceremonial commitment. , whooping cough, hepatitis B, Haemophilus influenzae type B.
Panacea also plans to use the DFC loan to expand its manufacturing capacity to produce approximately 70 million doses per year.
DFC also works with Indian companies to strengthen affordable housing and economic empowerment by expanding access to capital for women and other underrepresented communities.
CEO Biswal also entered into a ceremonial loan agreement of up to USD 50 million to Vastu Housing Finance Corporation Limited to fund the expansion of home loans and housing finance in India. Signed.
According to a statement from DFC, the project will provide affordable home loans to over 2,200 Indians, with over 95% supporting women as sole or co-borrowers. Vastu will also provide about 1,000 loans to small and medium-sized enterprises, the majority of which are expected to be owned or owned by women.
India is the cornerstone of DFC’s engagement with the broader Indo-Pacific and the rest of the world. The country is DFC’s largest market, with approximately USD 3.8 billion invested as of fiscal 2023, including USD 820 million in new investments made last year.
Over the past three years, DFC has more than doubled its investments in the Indo-Pacific region to more than US$9.5 billion, making the region the fastest growing region within DFC. DFC works with India to address global challenges across a wide range of sectors, including energy, health, and small business finance. (Ani)
