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Axis Bank on Thursday said it has committed a USD 150 million (about Rs 1,140 crore) loan for strengthening the healthcare infrastructure in the country in association with IPE Global, in the aftermath of the pandemic.
The continued threat of new variants has reinforced the need to boost investments and partnerships in the health sector.
Axis Bank has committed to strengthening India’s healthcare infrastructure by signing an MoU with IPE Global for the SAMRIDH Healthcare Blended Finance Facility, the bank said in a release.
“Under this partnership, Axis Bank will provide affordable finance of up to USD 150 million through SAMRIDH, to support health enterprises and innovators who would otherwise not have access to affordable debt financing,” said the country’s third largest private sector bank.
It said the ability to access loans will help them increase production and provide advanced health solutions to address COVID-19 along with other health emergencies, especially across the vulnerable communities of India from tier 2 and 3 cities.
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