New Delhi, September 14: The U.S. International Development Finance Corporation (DFC) has announced a significant investment of $70 million in India’s private sector to support key areas such as health systems, affordable housing, and small business development. This investment aligns with the shared priorities of the U.S. and Indian governments, focusing on sustainable growth and addressing pressing developmental challenges.
A major portion of the DFC investment will be allocated to improving India’s health infrastructure, particularly in vaccine production. DFC Deputy CEO Nisha Biswal signed a $20 million loan agreement with Panacea Biotec Limited, a leading pharmaceutical and vaccine producer, to expand their production of the hexavalent vaccine. This vaccine protects children against diphtheria, tetanus, polio, pertussis, hepatitis B, and Haemophilus influenza type B. The expansion will enable Panacea to produce approximately 70 million doses annually, significantly increasing its capacity to meet global vaccine needs.
In addition to the health sector, DFC is making a substantial contribution to affordable housing in India. A $50 million loan agreement was signed with Vastu Housing Finance Corporation Limited to provide affordable home loans to lower- and middle-income families. This project is expected to benefit more than 2,200 Indians, with over 95 percent of the loans supporting women as sole or co-borrowers.
Furthermore, Vastu plans to provide roughly 1,000 loans to small businesses, primarily owned or led by women. This will contribute to economic empowerment and inclusivity in India’s financial landscape.
India is a key market for DFC, with the organization’s largest investment destination. As of fiscal year 2023, DFC has invested approximately $3.8 billion in India, including $820 million in new projects over the past year.
In recent years, DFC has significantly expanded its investments in the Indo-Pacific region, with a total of over $9.5 billion. This reflects the growing strategic importance of this region. Over the past quarter alone, DFC approved 42 new projects globally, worth over $5.1 billion, with at least $230 million focused on Asia.
