back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Axis Bank commits $150m to SAMRIDH Healthcare Blended Finance

By Leandra Monteiro

March 04, 2022

  • Axis Bank
  • COVID-19 Pandemic
  • Credit Management
Share

Axis BankThe COVID-19 pandemic continues to pose a great risk to the health and safety of India’s population. The continued threat of new variants has reinforced the need to boost investments and partnerships in the health sector. India’s third-largest private sector bank, Axis Bank, has committed to strengthening India’s healthcare infrastructure by signing an MOU with IPE Global Ltd for the SAMRIDH Healthcare Blended Finance Facility.

Under this partnership, Axis Bank will provide affordable finance of up to $150 million through SAMRIDH, to support health enterprises and innovators who would otherwise not have access to affordable debt financing. The ability to access loans will help them increase production and provide advanced health solutions to address COVID-19 along with other health emergencies, especially across the vulnerable communities of India from Tier 2 and 3 cities.

SAMRIDH, an initiative supported by the United States Agency for International Development (USAID), leverages philanthropic capital and public sector resources, to offset barriers for commercial investments in small and medium health enterprises.

This partnership will enhance SAMRIDH’s efforts to scale market solutions and innovations in the healthcare value chain, supplementing the manufacturing and distribution of pharmaceuticals, facility expansion of public and private hospitals, nursing homes, small clinics, laboratories, and warehouses.

“The healthcare segment has been a key focus area for Axis Bank and we have been supporting various entities impacted by the COVID-19 pandemic. Our partnership with SAMRIDH will enable the Bank to extend the much-needed debt support to more entities that are working to strengthen India’s healthcare infrastructure, in order to deal with the third wave of the pandemic and any other emerging healthcare challenges,” said Subrat Mohanty, Group Executive – Axis Bank Business Group, Axis Bank.

Speaking on the collaboration, USAID/India Mission Director, Veena Reddy said, “Private enterprise is a powerful force for lifting lives, strengthening communities, and accelerating sustainable development. Increasing access to affordable capital for small enterprises with solutions for greater reach will enable long-term impact. This new partnership between Axis Bank and SAMRIDH will further our joint efforts to provide innovative healthcare solutions to some of the most vulnerable people in India.”

Previous Article

March 04, 2022

InvestX expands leadership team with two key appointments

Read More
Next Article

March 04, 2022

SoFi completes acquisition of Technisys

Read More










IBSi Daily News Analysis

Tech, Banking, UK

October 07, 2022

Axis Bank

Despite massive investments in IT, UK banking customers remain skeptical

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Kotak Mahindra Bank partners with Finastra for Kotak FYN

Read More

October 06, 2022

Wise Money develops its platform to streamline the credit approval process

Read More

October 06, 2022

Credit Union of Colorado goes live with Scienaptic AI

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022