The United Kingdom, through Karandaaz’s Risk Participation Facility with Meezan Bank, is financing the development and production of a high flow nasal oxygen (HFNO) devices, which can also be used as a continuous positive airway pressure (CPAP) devices, by Alsons Group. Karandaaz, funded by the United Kingdom’s Office of Foreign, Commonwealth and Development Office (FCDO), has established a $50 million financing programme with Meezan Bank, which enables vendors and distributors of participating corporates and other eligible SMEs access to finance. The HFNO device is very important for hospitals to treat novel coronavirus (Covid-19) patients with lung infections apart from other serious respiratory diseases, and has been approved by the Drug Regulatory Authority of Pakistan (DRAP), to help manage oxygen levels.
Published in The Express Tribune, October 2nd, 2020.
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