PROJECT

Projects

Environmental & Social Review Summary

Project Number

50258

Company Name

POPULAR PHARMACEUTICALS LTD

Date ESRS Disclosed

Jan 6, 2026

Country

Bangladesh

Region

South Asia

Last Updated Date

Jan 6, 2026

Environmental Category

B - Limited

Status

Pending Approval

Sector

Pharmaceuticals and Medicine Manufacturing

Industry

other

Department

Regional Industry - MAS Asia & Pac

Project Description

IFC is considering a senior A loan of up to US$20 million and participating loans of US$10.7 million (together the “Loan”) to support the working capital needs of Popular Pharmaceuticals PLC. (“PPL” or the “Company” or the “Borrower”), a well reputed, mid-sized pharmaceutical company in Bangladesh. The Loan will ensure an uninterrupted supply of critical essential medicine amidst a shortage of US Dollars in the country, which is impacting the import of key raw materials for the pharmaceutical sector. Use of Proceeds (UoP) for the IFC Loan does not cover any brownfield or greenfield capacity expansion.

PPL is primarily involved in the production of diabetics, pain management, ophthalmology, and dialysis and include human insulin, cephalosporin, penicillin, small and large volume parenteral and dialysis fluids with wide distribution coverage across the country. PPL has its manufacturing unit in Tongi industrial area (15 km from Dhaka) built with compliance with WHO cGMP standards. PPL is presently undertaking construction of a new Hormone Building and a New Utility Building as well as upgrading the Effluent Treatment Plant at their Tongi manufacturing facility; however, such expansion activities are not considered under IFC’s UoP.

Overview of IFC's Scope of Review

IFC’s E&S review of the proposed investment included (i) site visits of the existing operations in Tongi industrial area in Bangladesh; (ii) review of PPL’s E&S / Human Resources (HR), Occupational Health and Safety (OHS) and supply chain management systems and associated policies, plans and procedures and information shared by the Company as requested as part of the IFCs E&S appraisal questionnaire; (iii) meetings with PPL senior management, facility management team as well as their supply chain management team regarding raw materials sourcing; (iv) interviews with workers at PPL’s manufacturing facility in Tongi.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan