The Project is expected to be supported by IDA-PSW LCF, subject to central bank approval of the ETB Loan. IDA-PSW LCF support will ensure that the company gets access to long-term funding in local currency at a rate that ensures the project’s financial sustainability. Without the support of the blended concessional finance the project’s risk would be too high to attract affordable long-term funding in local currency. The main expected project-level outcome is an increase in the provision of healthcare medical products. The level of concessionality (i.e., “subsidy”) provided by the blended concessional finance co-investment is estimated to be 24.4% of the total project cost. The total cost of the project is US$3 million. The subsidy estimate is based on the difference between (i) a “reference price and (ii) the “concessional price” being charged by the blended concessional finance co-investment. Further details and historical information on estimated subsidy levels in IFC’s blended finance portfolio can be found at: www.ifc.org/blendedfinance. As is the case with all of IFC’s blended concessional finance co-investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Enhanced Principles and IFC’s blended finance approach and governance can also be found at: www.ifc.org/blendedfinance

3.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	3.0
Equity

* These investment figures are indicative

Project level impact: Improved access to high quality equipment for patients in Ethiopia. At present, access to foreign currency has limited private hospitals' ability to access high quality medical equipment which needs to be imported. The Project will expand Infinity's capacity to import and distribute medical equipment. The client will also provide training in the use of equipment to the hospitals/ clinics, ensuring patients receive adequate services. Market level impact: The Project will expand access to quality medical equipment for private, in addition to public, health services providers in Ethiopia. The equal footing through access to equipment via finance for both public and private, should help contribute to positioning the emerging private sector, increasing demand for private health services, and contributing to the development of a more competitive health services market.

1. Financial Additionality: Financing Structure: a) A facility with USD disbursement and local currency repayment is currently not available in Ethiopia; b) IFC is proposing a 6-year loan, including a 2.5-year grace period. Such long-tenor financing with the grace period is not readily available in Ethiopia. 2. Non-Financial Additionality - Standard Setting: IFC will assist Infinity to strengthen its environmental, and social governance (ESG) standards.

This is a Category B project according to IFC's Environmental and Social Sustainability Policy. Based on the information reviewed by the Company, this investment will have limited adverse E&S risks and impacts that are few and site-specific, with no renovation or construction impacts, only operational impacts are expected. These can be avoided or mitigated by adhering to recognized performance standards, procedures and guidelines as described in the following sections. Key E&S risks and impacts associated with the project include: the company's capacity and systems to assess and manage E&S risks and issues associated with its operations; provision of fair and safe working conditions for its employees; Occupational Health and Safety (OHS) policies including COVID 19 related procedures; road safety; and life and fire safety.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.