MADIBA

pending

 The proposed investment is a loan by IFC of $40 million and up to $60 million in syndicated loans to support Institute Pasteur de Dakar (“IPD” or the “Company”) scale up vaccine production in Senegal. IPD is a private not-for-profit foundation established and managed by the Government of Senegal (“GoS”) and Institute Pasteur France (“IPF”) to manufacture vaccines and support public health improvements in Africa. IPD was established in 1896 and started operating as a vaccine manufacturer for yellow fever in 1937. The Company’s manufacturing footprint includes an operational vaccine facility in Dakar and two greenfield vaccine facilities under construction in the city of Diamniadio, 30 km south-east of Dakar.  One of the facilities being constructed in Diamniadio is the specific Project being financed by IFC. The Project includes the construction of a modular multi-vaccine plant providing for: (i) Drug Substance (“DS”) manufacturing; and (ii) fill and finish (“F&F”) of vaccines. The plant will manufacture various vaccines including that for COVID-19. Adjacent to the Project site, IPD is constructing a second greenfield facility to scale up production of the yellow fever vaccine; this facility is not part of the Project. IPD have appointed a Senegalese construction company as the main contractor to undertake the civil works for the Project, which is at an advanced stage of construction.