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Illustration: Aïda Amer/Axios

Eastman Kodak (NYSE: KODK) secured a $765 million loan from the U.S. government, to create a business that will manufacture ingredients for use in key generic drugs (including hydroxychloroquine).

Why it matters: This is a lifeline for Kodak, which realized way too late that photography was going digital. It also seeks to remedy a situation in which the U.S. is reliant on foreign manufacturers (particularly in China and India) for drugs that are critical to national security.

Why Kodak? As one administration source explains to me, it was an "easy shell to transform."

Details: The loan appears to come from the U.S. International Development Finance Corp. (DFC), which was created in 2018 via the consolidation of OPIC and USAID, operating in collaboration with the U.S. Defense Department. The funding itself is coming via the CARES Act.

The bottom line: "The loan is the first of its kind under the Defense Production Act, which the Trump administration has previously invoked to speed the production of Covid-19 related supplies such as ventilators. ... Trump in May issued an order allowing the DFC to financially support the domestic production of strategic resources for the coronavirus pandemic and 'to strengthen any relevant domestic supply chains.'" — Rachael Levy, WSJ

Go deeper

Japan to release Fukushima water into sea

People near storage tanks for radioactive water at the Fukushima Dai-ichi nuclear power plant in Okuma, Fukushima Prefecture, Japan, in 2020. Photo: Tomohiro Ohsumi/Getty Images

Japan's government on Tuesday announced plans to release more than 1 million metric tons of contaminated water from the destroyed Fukushima nuclear plant into the Pacific Ocean following a treatment process.

Why it matters: While the Biden administration has said Japan appears to have met globally accepted nuclear safety standards, officials in South Korea, China and Taiwan, local residents, those in the fishing industry and green groups oppose the plans, due to begin in about two years, per the Guardian.

In photos: Twin Cities on edge after Daunte Wright shooting

Demonstrators shout "Don't shoot" at the police after curfew on April 12 as they protest the death of Daunte Wright, who was shot and killed by a police officer in Brooklyn Center, Minnesota, a day earlier. Photo: Kerem Yucel/AFP via Getty Images

There were tense scenes in the Twin Cities suburb of Brooklyn Center Monday night, after demonstrators defied a 7 p.m. curfew to protest for a second night the fatal police shooting of Daunte Wright.

The big picture: The curfew was announced following a night of protests and unrest over the killing of Wright, 20, during a traffic stop Sunday. Following peaceful protests and a daytime vigil, police again deployed tear gas during clashes with protesters Monday night, according to reporters on the scene.

In photos: Life along the U.S.-Mexico border

Children at the border of the Puerto de Anapra colonia of Ciudad Juárez, Mexico, hang on a border fence and look to Sunland Park, N.M. Photo: Russell Contreras/Axios

Axios traveled to McAllen and El Paso, Texas, and Ciudad Juárez, Mexico, to see how the communities are responding to an increase of migrants from Central America.

Of note: The region in South and West Texas are among the poorest in the nation and rarely are the regions covered in depth beyond the soundbites and press conference. Axios reporters Stef Kight and Russell Contreras walked the streets of McAllen, El Paso, Texas, and Ciudad Juárez to record images that struck them.

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