Close this search box.

We are creating some awesome events for you. Kindly bear with us.

India and World Bank sign agreement to invest in biopharmaceutical technology

India and World Bank sign agreement to invest in biopharmaceutical technology

The Government
of India and the World Bank recently
a US$125-million agreement to support India in developing an
innovative biopharmaceutical and medical devices industry, which aims to be globally
competitive and addresses the country’s major concerns around barriers to
affordable healthcare.

US$125 million loan from the International
Bank for Reconstruction and Development (IBRD)
, has a 5-year grace period,
and a maturity of 19 years.

agreement was signed by Mr Sameer
Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry
of Finance, on behalf of the Government of India; Mr Mohd. Aslam, Managing Director,
Biotechnology Industry Research Assistance Council (BIRAC); and Mr Hisham Abdo, Acting Country Director,
World Bank India.

The Innovate
in India for Inclusiveness Project (I3)
 will support Government of
India’s Biotechnology Industry Research
Assistance Program
(BIRAC). Launched in 2013, BIRAC was set up by the
Indian Department of Biotechnology
(DBT) to support innovative start-ups and collaborations through strategic

 “India is in a position to deliver safe,
effective and low-cost vaccines to tackle the host of diseases that plague
billions around the world. The proposed project is designed to leverage India’s
potential and capability to achieve this global goal,” said Mr
Hisham Abdo, Acting Country
Director, World Bank India. 

The I3 Project will nurture
next generation technical skills, provide companies with advanced shared
facilities to conduct clinical validation, link clinical trial sites with
networks of expert advisors and international bodies, and strengthen all
institutions involved in the facilitation and adoption of global innovations,
technologies, and licensing models.

project will also promote industry-academia interface and enable start-ups and
small and medium enterprises to build innovation research capacities for developing
affordable healthcare products.

will now scale-up its efforts across the industry to nurture India’s biopharma
innovation ecosystem. It will facilitate a more collaborative research and
development (R&D) environment, leverage the expertise of local and
international players from both the public and private sectors, and make India
more competitive. It will also help create an ecosystem that facilitates
development of a continuous pipeline of products in the health sector. This
will help India emerge as a low-cost healthcare provider for the world.

“BIRAC has been playing a critical role in
developing and sustaining the innovation ecosystem in India. This landmark
collaboration between the Department of Biotechnology and World Bank will
further catalyse this ecosystem to develop new vaccines, diagnostics and core
R&D technologies of medical technology devices while strengthening the
existing infrastructure and building collaborative partnerships in
parallel,” said Mr Renu
Swarup, Secretary, Department of Biotechnology, Ministry of Science and

Credit: The World Bank

the same day, the Government of India and the World Bank also
another loan agreement for the Madhya Pradesh Rural Connectivity

US$210-million loan agreement for the Madhya Pradesh Rural Connectivity Project is expected to
improve the durability, resilience and safety of the gravel surfaced rural
roads and enhance the capacity of the state to manage its rural roads network.

The Project will cover 10,510 km stretch of
rural roads in Madhya Pradesh that fall under the Chief Minister’s Gram Sadak
Yojana (CMGSY) program. Of this 10,000 km will be upgraded from existing gravel
to bituminous surface roads, while 510 km of new roads will be built to the
same bituminous surface standard.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit