United Nations Development Program will execute the project's acquisitions by its policies and regulations Photo: @PNUDCuba

Havana, Sep 23 (RHC) The United Nations Development Program (UNDP) reported Friday that it will implement the first financing to Cuba for the strengthening of the biopharmaceutical industry, underwritten by the Central American Bank for Economic Integration (CABEI).

In its Twitter account, the entity pointed out that the 46.7-million-euro credit is aimed at improving the national response capacity to diseases such as COVID-19.

A note published on the United Nations Development Program website states that this financing will strengthen the infrastructure for the production of injectable antibiotics, parenteral solutions (serums), generic and biosimilar medicines, diagnostics, and medical equipment used in the treatment of people infected with COVID-19 and other communicable diseases.

It will also facilitate the acquisition of health supplies and medical protection material to prevent contagion.

According to the text, through the strengthening of the pharmaceutical industry and the production of 200 million doses of vaccines, higher levels of economic productivity are expected to be achieved through the development of innovative drugs and the modernization of technology, which will contribute to the diversification for the benefit of the national health system and other countries in the region.

United Nations Development Program will carry out project procurement following its policies and regulations, while BioCubaFarma, along with the Ministry of Foreign Trade and Investment (Mincex), the Central Bank of Cuba (BCC), and the Ministry of Finance and Prices (MFP), will play a key role in executing the actions in the 10 companies that are part of this business group.

The loan is granted under the specialized mechanism established by the Central American Bank for Economic Integration for activities and operations with the Republic of Cuba (Source: ACN).