DFC Announces $70 Million Investments in India's Private Sector

The U.S. International Development Finance Corporation (DFC) has unveiled a $70 million investment targeting India's private sector, aiming to advance healthcare, affordable housing, and small business support. DFC's collaboration with India's private sector seeks to address key global challenges and support economic growth.

The U.S. International Development Finance Corporation (DFC) has announced a $70 million investment in India's private sector. This initiative, revealed on Thursday, aims to enhance healthcare, affordable housing, and small business support, reflecting key priorities of both the U.S. and Indian governments.

In a statement, DFC Deputy CEO Nisha Biswal highlighted the partnership's local and global significance. During her visit to India, Biswal signed a $20 million loan commitment to Panacea Biotec Limited. This investment will finance the expansion of Panacea's production of its hexavalent vaccine, a six-in-one vaccine for children.

The loan will also support Panacea's goal of manufacturing approximately 70 million doses annually. Additionally, Biswal formalized a $50 million loan agreement with Vastu Housing Finance Corporation Limited to expand mortgage and home lending in India, benefiting over 2,200 Indians and providing 1,000 loans to small businesses.

DFC considers India a cornerstone of its Indo-Pacific strategy. As DFC's largest market, India has received about $3.8 billion, including $820 million in new investments last year. Over the past three years, DFC's investments in the Indo-Pacific have surged to over $9.5 billion, underlining its importance and rapid growth.

(With inputs from agencies.)