With this budget, Cuba, an extraterritorial member of CABEI, will also be able to strengthen the capacities to develop other drugs, medical equipment and diagnostic kits for the benefit of the population, according to a press release on the financial institution’s website.
CABEI Executive President Dante Mossi stressed that this particular operation will contribute to addressing the health crisis through the development of vaccines to reduce people’s risk of becoming infected with the SARS-CoV-2 coronavirus, and will contribute to the country’s economic reactivation.
The loan contemplates the strengthening of the infrastructure of the Cuban biopharmaceutical industry by increasing production of injectable antibiotics, parenteral solutions (serums), generic drugs and similar products.
It also includes the acquisition of supplies and medical protection material to prevent the spread of Covid-19.
The website recalled that one of the specific objectives of the Project to Strengthen the Biopharmaceutical Industry to combat the disease in Cuba and in the region is to achieve higher levels of economic productivity, through the development of innovative products of great importance in the context of the pandemic.
It includes the modernization of technology, as well as diversification for the benefit of the National Health System and other Latin American countries.
The Project will be executed by the United Nations Development Program (UNDP).