Large financial institutions are wooing Indian vaccine makers to expand their lending base, driven by the promise of successful vaccine candidates and rising global demand for covid-19 jabs. These financial institutions have offered to lend upwards of $300 million each to vaccine companies to scale up their manufacturing, Mint has learnt. “Companies also discussed the modalities of funding if Indian companies manufacture their vaccines outside India and look to export them." The Quadrilateral Security Dialogue Partnership—a diplomatic dialogue between the US, India, Japan and Australia—has established joint funding mechanisms for covid-19 vaccines. The International Finance Corporation, the private sector arm of World Bank, however, has financed Hyderabad- based Biological E to expand its covid-19 vaccine manufacturing.

Source: Mint July 06, 2021 19:41 UTC