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Home Economy Socio Economic

How to access CBN’s healthcare grant

Abiola Odutola by Abiola Odutola
June 7, 2020
in Socio Economic, Spotlight
CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies
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The Central Bank of Nigeria (CBN) has issued the guidelines to its Healthcare Sector Research and Development Intervention Scheme (HSRDIS).

The grant was designed 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.

This was disclosed by CBN via its site in Saturday and seen by Nairametrics. The guideline stated that the HSRDIS is designed to trigger intense national R&D activities to develop a Nigerian vaccine, drugs and herbal medicines against the spread of COVID-19.

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CBN Releases it’s Healthcare Research and Development Grant Guidelines to help strengthen the public healthcare system. See website…ow.ly/SLxc50A0Njo

— Central Bank of Nigeria (@cenbank) June 6, 2020

It stated, “It would also curb any other communicable or non-communicable diseases through the provision of grants to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes.

The Scheme is intended to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in Nigeria.

READ MORE: FG to reduce raw materials import by N3trillion

Source of fund

According to the apex bank, the Scheme shall be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF).

Grant Limit
While Research activities would not access more than N50 million, development/Manufacturing activities will access more than N500.0 million.

CBN emphasised that the disbursement under the Scheme shall be made to beneficiaries in tranches subject to approved milestones achieved.

READ ALSO: Fidson’s plan to dominate the pharmaceutical space in the next 10 years

Timeframe

The timeframe given to research activities was not more than two years from the date of release of fund and Development/Manufacturing activities are not more than one (1) year from the date of release of fund.

Who is eligible:

Candidate vaccines undergoing pre-clinical testing or trials shall not be eligible for consideration under this Scheme.

But candidate vaccines undergoing clinical testing or trials shall be eligible for consideration under the Scheme if considered to have high potential to cross the clinical trial stage and prospects of scale by the Body of Experts (BoE).

It stated, “In applying for the grant, the applicant shall be required to have conducted pre-clinical testing of the candidate drugs, herbal medicines and vaccines, and obtained certification from relevant health authorities for further research and development.

“Special consideration shall be given to candidate drugs, herbal medicines and
vaccines with high scientific merit against emerging infections and contribute to the development of the Nigerian vaccine.”

Modalities

The applicant(s) shall submit its application, with relevant documentation of validation from relevant health authorities, trial results, patent registration details (if any) and development timetable to the Body of Experts (BoE).

“The BoE shall evaluate applications and recommend to the CBN. CBN shall review for documentation adequacy and completeness.

“Upon approval, the approved grant sum shall be released to the applicant’s account with any PFI of his/her choice. The beneficiary shall submit a periodic progress report on the project to the CBN.

“The CBN shall have a proprietary right overall financed R&D outcomes or products. Equally, licensing protocol for the mass manufacturing of developed drugs, phytomedicines and vaccines shall be defined by the BoE in accordance with the World Health Organisation’s current Good Manufacturing Practices (cGMP),” it added.

 

 


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Tags: “Fight COVID-19”CBNCovid-19grantsHealthcare in Nigeria
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

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Comments 1

  1. Dr. Godwin Ubi says:
    June 12, 2020 at 9:16 am

    Good morning
    Please we are interested in submitting our proposal but we don’t know where and who to submit to. Please can you kindly provide me with a link for submission.
    Thank you while awaiting your reply.

    Reply

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