The African Export-Import Bank (Afreximbank) and the Nigerian government-owned Bank of Industry (BOI) have announced the signing of a $75 million financing term sheet to support local manufacturers under the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) in Nigeria.
The PVAC is a Federal Government of Nigeria strategy aimed at achieving a measurable increase in the domestic manufacturing of generic pharmaceuticals, vaccines, biologics, and medical devices.
The financing term sheet was signed by officials of Afreximbank and the CEO of the Bank of Industry, Olasupo Olusi, on Thursday at the commissioning ceremony of the bank’s African Medical Centre of Excellence (AMCE) in Abuja.
