Union Government signs loan agreement with World Bank for nurturing innovation

The Ministry of Finance has signed a loan agreement for IBRD credit of $125 million (equivalent) with the World Bank for the ‘Innovate in India for Inclusiveness Project in New Delhi on April 24, 2018. The purpose of the project are to nurture indigenous innovation, foster local product development and accelerate the commercialisation process by bridging critical skill and infrastructure gaps to promote affordable and innovative healthcare products generation for inclusive development and increasing competitiveness in India. The closing date ofproject is June 30, 2023. 

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