Popular WC

pending

 The proposed investment is for up to US$30.7 million (“IFC Loan”) to Popular Pharmaceuticals PLC. (“PPL” or the “Company” or the “Borrower”) in Bangladesh. Founded in 2006, PPL is a well-established, mid-sized pharmaceutical manufacturer in Bangladesh. The Company ranks 9th by revenue in Bangladesh pharma market. PPL belongs to Popular Group, which is a leading, family-owned healthcare conglomerate in Bangladesh with a 41-year track record across diagnostics, pharmaceuticals, hospitals, and medical educationThe IFC Loan proceeds will be used to finance working capital, primarily for the procurement of raw materials, which are mostly imported. The transaction aims to ensure uninterrupted supply of essential medicines during a period of financial sector stress and credit tightening in Bangladesh. A long-term US$-denominated loan will enable the Company to navigate the current financial sector stress and credit tightness and maintain continuity of operations.