CBN introduces intervention scheme and grants for Research and Development in Healthcare

As part of its policy response to the COVID-19 pandemic, the Central Bank of Nigeria has introduced the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.

The main objective of the scheme is to provide grants for Research and Development in the Healthcare system, whereby researchers and local manufacturers can come up with vaccines, drugs and herbal medicines towards the treatment and prevention of communicable and non-communicable diseases, including the Corona virus.

The Scheme also aims to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs.

The Scheme, which will be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF), enables access to grant of up to N50 Million for research activities and a maximum of N500 Million for Development/Manufacturing activities.

For detailed guidelines and eligibility to access the scheme, click the link below:

https://www.cbn.gov.ng/Out/2020/CCD/Healthcare%20RnD%20intervention%20guidelines.pdf

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