Bank Danamon Facilitates IDR 1.5 Trillion Islamic Financing to Bio Farma for COVID-19 Vaccine Production

Bank Danamon has signed an IDR 1.5 trillion Islamic financing agreement with Bio Farma to assist with vaccine production in Indonesia, according to local media reports.

Why it matters?

The financing facility will be used by Bio Farma to purchase raw materials and supporting materials for the production of COVID-19 vaccines in Indonesia.

The Government of Indonesia is preparing 15 million bulk vaccines through Bio Farma to meet domestic requirements for the first phase of vaccination in 2021.

The collaboration between Bank Danamon and Bio Farma will support the Government with combatting the COVID-19 pandemic in the country, and assist with accelerating national economic recovery, according to Herry Hykmanto, Director of Danamon Syar...