The International Finance Corporation (IFC), a member of the World Bank Group, is lending $147.5 million (around ₹866 crore) to Jubilant Pharma Ltd to help it offer better access to quality and affordable pharmaceuticals in underserved markets in India and abroad.
Jubilant Pharma, a wholly-owned subsidiary of Jubilant Life Sciences Ltd, is incorporated in Singapore with manufacturing operations in India, the US, and Canada.
Of the total financing package, $110 million is from IFC’s own account.
The remaining $37.5 million is from IFC’s Managed Co-Lending Portfolio Programme, which provides additional long-term financing through co-financing partners.
The loan would help Jubilant Life Sciences increase focus on the pharmaceutical sector and strengthen its generic drug manufacturing facilities in India.
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Published on May 27, 2014
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