606105 - Zhende Medical Ethiopia Client Preparation

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Summary of Advisory Services Project Information

Project Number

606105

Primary Business Area

Manufacturing, Agribusiness & Services

Disclosure Date

May 17, 2021

Country

Ethiopia

Region

Africa

Status

Completed

Estimated Total Budget

Estimated Total Budget Pending
(Project budget includes all project-funded activities)

Last Updated Date

Sep 10, 2024

Project Estimated Start Date

Project Estimated Start Date Pending

Project Estimated End Date

Project Estimated End Date Pending

Project Description

This Upstream Project entails an opportunity for IFC to support Zhende Medical Co. Ltd. in the early-stage development of establishing a medical supplies manufacturing plant in the Kilinto Industrial Park in Ethiopia. Zhende is a company engaged in research and development, manufacturing, and sales of medical supplies. These medical supplies are among the key healthcare products that countries have been striving to access in their fight against the pandemic to protect their healthcare workers and reduce the spread of the virus. The Project intends to invest in phases over three years, with the facility ultimately producing multiple products, including gowns, gauze, PPEs, syringes, and other medical supplies. The proposed Project requires Upstream support to complete financial, legal, and insurance analysis before proceeding to the investment stage. IFC intends to provide project preparation support required to complete technical and financial feasibility through managing and co-funding external consultants and deploying IFC's in-house expertise and resources to get the project ready for financial close.

Development Results

The project seeks to build local pharmaceutical and medical manufacturing capabilities with a potential outcome of (i) increasing availability of critical healthcare products in Africa and (ii) diversifying the healthcare value chain and increasing local manufacturing capacities for critical healthcare products, thus increasing resilience of the country and the region, especially during times of supply chain disruptions as demonstrated by COVID-19.

E&S Risks / Impacts and Mitigation

Performance Standard	Description and Potential Impact	Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life cycle of the project.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
PS 2. Labor and Working Conditions	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life cycle of the project.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
PS 3. Resource Efficiency and Pollution Prevention	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life cycle of the project.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
PS 4. Community Health, Safety and Security	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life cycle of the project.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
PS 5. Land Acquisition and Involuntary Resettlement	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life cycle of the project.	IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.

This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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