Rs 2,000-cr pharma research fund : Exim Bank

July 27, 2012

The Export Import Bank of India (Exim Bank) will utilize Rs 2,000-crore fund in research activities for the pharma sector. It is being done to increase exposure in research and development.
The fund has been allocated by the Commerce Ministry for the pharma sector. Exim Bank is looking for government contribution in this fund to keep the cost of lending rates low.
Besides providing finance to export and import related activities, the bank is already into funding for research activities for corporates to boost competitiveness for exports. The Bank is also keen in having sector-specific fund for engineering.
The bank has is planning a $ 500 million fund for the SME sector’s modernization and technology development.
The bank also proposed a scheme for financing art, design and IT sector.