The Ghanaian Export and Import Bank (Eximbank) has reportedly released a whopping US$ 5 million of Ghanaians pharmaceuticals giant, Tobinco Group to start the production of Hydroxychloroquine and azithromycin for use in Ghana.
Apparently, Ghana is in short supply of the drug which has been hailed at a veritable treatment option for the deadly COVID-19. A significant percentage of patients treated with Hydroxychloroquine and azithromycin have been recorded to have recovered quickly.
During a recent inspection tour of Entrance Pharmaceuticals and Research Centre- the production arm of the Tobinco Group, members of the Eximbank’s board credit subcommittee was reportedly impressed by the level of investment at the facility.
This will not be the first time the Eximbank has advanced funding to Tobinco. The business support bank says it is impressed with how the previous facilities were used by the pharma company.
The facility is being offered at 8% interest rate which is likely bring down the prices of their products as similar facilities attract way higher interest rates.
Tobinco Pharmaceuticals Limited has been a leader in the pharma industry for over three decades now, specializing in the marketing and distribution of anti-malarial drugs like Alaxin, Lonart amongst others across the country.