Tridem Africa

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 The proposed IFC investment comprises two loans totaling up to EUR50 million equivalent to the subsidiaries (the “Borrowers”) of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma” or the “Company”), to support the Company’s expansion in Africa through construction of a pharmaceutical product distribution hub and the establishment of a local pharmaceutical manufacturing facility in Cote d’Ivoire (“The Project”). The first loan will support the establishment of a regional distribution hub in Cote D’Ivoire, by a local subsidiary of Tridem Pharma, a French pharmaceutical company operating in Africa and the Middle East which was acquired by Fosun Pharma in 2017. The second loan will support a subsidiary of Guilin Pharma – a manufacturer of anti-malaria drugs based in Guilin, China which has been majority owned by Fosun Pharma since 2003 – to construct and operate a greenfield manufacturing facility in Cote D’Ivoire to produce primarily anti-malarial drugs. Founded in 1994, Fosun Pharma (“the Sponsor”) is a leading healthcare company in China and an IFC client since 2006. IFC provided a corporate loan to Fosun Pharma (committed in 2006, IFC project #24812) and a follow-up financing package including equity and loan in 2011 (#38272), IFC provided another corporate loan in 2021 (#45021). ESRS of the previous three investments are available at the following links.  Fosun Pharma (Project#24812, disclosed in September 2006):https://disclosures.ifc.org/project-detail/ESRS/24812/fosun-pharma; Fosun Pharma 2 (Project#31231, disclosed in May 2011):https://disclosures.ifc.org/project detail/ESRS/31231/fosun-pharma-2. Fosun Pharma (Project# 45021, disclosed in May 2021): https://disclosures.ifc.org/project-detail/ESRS/45021/fosun-pharma-ghp .  IFC’s review finds that overall, E&S action plan obligations from previous projects have been materially fulfilled by the company. Tridem Pharma (https://www.tridem-pharma.com/), specializes in the distribution and marketing of pharmaceutical products, especially of anti-malarial drugs. Established in 1986 in France, Tridem Pharma was acquired by the Fosun Group in 2017. Its local subsidiary in Cote d’Ivoire, will act as the borrower to fund the establishment of a distribution hub, which will be located on land procured by Tridem Pharma. Guilin Pharma, one of the biggest producers of anti-malarial products in China and which exports its products to over 80 countries globally, was established in 1958 and became part of the Fosun Group in 2003. Guilin Pharma will design and construct an anti-malaria manufacturing facility with World Health Organization prequalification and production capacity of up to 5 billion tablets a year in Cote d’Ivoire on the same land procured by Tridem Pharma.