NEW DELHI, INDIA – The U.S. International Development Finance Corporation today announced several new investments in India’s private sector designed to advance top priorities of the U.S. and Indian Governments, including advancing health systems––particularly vaccines––expanding access to affordable housing, and broadening support for small businesses.

“Our partnership with India is both local and global,” said DFC Deputy CEO Nisha Biswal said during a visit to India. “DFC is working to deliver concrete developmental impact for communities across India, and we are partnering with the Indian private sector to tackle some of the world’s most pressing challenges.”

While in India, DCEO Biswal signed a ceremonial commitment for a $20 million loan to Panacea Biotec Limited to finance expansion of the company’s production of its hexavalent vaccine, a six-in-one vaccine for children that protects against for diphtheria, tetanus, polio, pertussis, hepatitis B, and Haemophilus influenzae type B. Panacea will use the DFC loan to expand its manufacturing capacity to reach approximately 70 million doses annually.

DFC is also working with Indian companies to bolster affordable housing and economic empowerment by expanding access to capital for women and other underrecognized communities. DCEO Biswal signed a ceremonial loan agreement for an up to $50 million loan to Vastu Housing Finance Corporation Limited to finance the expansion of its mortgage and home lending in India. This project is expected to provide affordable home loans to more than 2,200 Indians, more than 95 percent of which will support women as a sole borrower or co-borrower. Vastu will also provide roughly 1,000 loans to small businesses, the majority of which are expected to be owned or led by women.

India is the bedrock of DFC’s engagement with the wider Indo-Pacific and the rest of the world. The country is DFC’s largest market with approximately $3.8 billion invested as of FY2023, including $820 million in new investments made last year. Over the past three years, DFC has more than doubled its investments in the Indo-Pacific to more than $9.5 billion, making it DFC’s fastest-growing region. DFC is working with India to solve global challenges across a wide range of sectors, including energy, health, and small business financing.

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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.    

Source : DFC