ENA Global 2018-04-26 05:39:21 <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825"><strong>New Delhi, Apr 26 (KNN)</strong> India has signed a Loan Agreement for IBRD credit of USD 125 (equivalent) for the Innovate in India for Inclusiveness Project with the World Bank.</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">The Objectives of the project is to nurture indigenous innovation, foster local product development and accelerate commercialization process by bridging critical skill and infrastructure gaps to promote affordable and innovative healthcare products generation for inclusive development and increasing competitiveness in India. </span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">The project would support consortia of public, private, and the academic institutions to overcome the key market failures currently holding back the development of an innovative biopharmaceutical and medical devices industry in India.</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">The project consists of the following parts:</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">-- (i) Strengthening of pilot-to market innovation ecosystem</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:black">-- (ii) </span><span style="color:#1E2825"> Acceleration of the pilot to-market process for specific products and</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:black">-- (iii) </span><span style="color:#1E2825"> Project Management and monitoring &amp; Evaluation.</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">The closing date of Innovate in India for Inclusiveness project is 30 June, 2023.</span></p> <p style="margin-left:0in; margin-right:0in; text-align:justify"><span style="color:#1E2825">The Loan Agreement was signed by Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Hisham Abdo, Acting Country Director, World Bank (India) on behalf of the World Bank.<strong> (PIB Inputs)</strong></span></p> 19690 http://knnindia.co.in/news/newsdetails/global/india-signs-loan-agreement-with-world-bank-for-125-million-for-innovate-in-india-for-inclusiveness-project 2018-04-26 05:39:21 knnindia.co.in