The U.S. International Development Finance Corporation (DFC) has announced a substantial investment of USD 70 million in India’s private sector. Announced on Thursday, this funding aims to support several key initiatives outlined by both the U.S. and Indian governments.
In a statement, DFC Deputy CEO Nisha Biswal highlighted that the investments are intended to enhance critical areas such as health systems—especially vaccine production—expand access to affordable housing and provide greater support for small businesses.
During her visit to India, DCEO Biswal formalized a notable USD 20 million loan agreement with Panacea Biotec Limited. This loan will facilitate the expansion of the company’s production capabilities for its hexavalent vaccine, which protects against six major diseases in children, including diphtheria and polio. Panacea Biotec plans to use this investment to increase its production to approximately 70 million doses annually.
In addition to this, a USD 50 million loan agreement was signed with Vastu Housing Finance Corporation Limited. This funding will be directed towards expanding mortgage and home lending services across India. The initiative is projected to offer affordable home loans to over 2,200 individuals, with more than 95 percent of these loans benefiting women as the primary or co-borrowers. Vastu Housing will also extend around 1,000 loans to small businesses, with a significant portion expected to be led by women.
India continues to be a focus for the DFC, which views the country as its largest market in the Indo-Pacific region. As of the fiscal year 2023, DFC has invested approximately USD 3.8 billion in India, including USD 820 million in new investments last year alone. Over the past three years, DFC’s investments in the Indo-Pacific have more than doubled, reaching over USD 9.5 billion, underscoring the region’s rapid growth and the DFC’s commitment to addressing global challenges across various sectors.
