"international-finance-corporation"

The loan tenor is up to 10 years with a two-year grace period. IFC may mobilise around $50 million from parallel lenders.

The IFC also plans another $15 million as a co-investment envelope to invest alongside the Fund.

Glenmark is having a good presence in generics, over the counter and specialty drugs.

IFC, a member of the World Bank Group, is providing a senior loan of up to $30 million to BioE to support the Hyderabad-based company's expansion of its range of low-priced, generic vaccines for routine immunisation of children, it added.