Are you in the Healthcare sector? If you are into Research and Development, then this CBN Healthcare Research and Development Grant is for you.
What is The CBN Healthcare Research and Development Grant
The CBN Healthcare Research and Development Grant was introduced in response to the COVID – 19 Pandemic that shook the whole world in the year 2019 – 2020. This response led to the introduction of the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to strengthen the healthcare sector with research focused on improved drugs, vaccines and improved diagnosis of diseases.
What Research and Development Activities are Eligible for the CBN Healthcare grant?
The research and development (R & D) activities that are eligible for the CBN healthcare grant are;
- Research and development of candidate drugs, alongside herbal medicines and vaccines.
- Manufacturing of drugs, herbal medicines and vaccines.
- Research and development in new and improved health technology.
- Research and development into phytomedicines.
- Research partnership between Academia and the health industry in the development of drugs and vaccines.
Note that all research and development must be centered towards the control, prevention and treatment of infectious disease. Also, vaccines still undergoing pre-clinal tests will not be considered for the CBN Healthcare Research and Development Grant.
Terms and Conditions of the CBN Healthcare Research and Development Grant
Amount: The Central Bank of Nigeria is willing to loan up to N50 Million for the healthcare research activities and N500 Million for development and manufacturing activities.
Rate: The CBN loan has a single digit interest rate of 9% per annum.
Tenor: For healthcare researchers, the tenor for repayment is 2 years from the date of release of funds. For healthcare development activities, the tenor for repayment 1 year only from the date of release of funds.
Disbursement of funds would be released in parts based on the progress made in research and development.
What Documents and Information are required for the CBN Healthcare Research and Development Grant
The documents and information requested are;
- Documentation of project validation from health authorities.
- Trail results.
- Patent registration details.
How to Apply for the CBN Healthcare Research and Development Grant
Submit your application and the documents listed above to the Body of Experts (BoE – The body of experts are responsible for the review of submitted research proposals as well as evaluation).
The application would be evaluated and reviewed by the BoE and delivered to CBN.
CBN would review as well for adequacy and completeness.
If approved, the loaned amount would be released to the applicant’s account.
Collect your requested sum.
Don’t forget to give periodic reports on progress of research and development.
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