World Bank arm to invest $47.5 million in Granules India

Eustan Ventures

New York: International Finance Corp. (IFC), the private-sector lending arm of the World Bank, on Monday said it will provide debt of $47.5 million (Rs318 crore) to drug maker Granules India Ltd to help finance its investment plans. Granules India is building a bulk drug manufacturing facility in Vishakhapatnam, expanding its existing capacities and investing in research and development to…