6.41 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	6.41
Equity

* These investment figures are indicative

The project helps finance a South African manufacturer of healthcare products. Assessment of Project Outcomes: The project outcomes rating is based will be based on the project’s support in the production of vaccines. This production responds to the large gap that has arisen due to the COVID-19 pandemic. Stakeholder Effect: Increased Access to Healthcare Products – The global shortage of medical products has led to a worldwide competition of these supplies, making it difficult – particularly in developing countries – to purchase quality drugs and medicines at affordable prices. Economy-wide Effect: Direct Jobs Created and Gross Value Added – IFC financing will support only manufacturer capable of full end-to-end of vaccines manufacturing in Africa. The project will help support delivery of healthcare supplies that is likely to result in the creation of new jobs and/or economic linkages to the rest of the economy. To measure progress against this outcome, IFC will track direct jobs created, gross value-added, and taxes in the country of production. Assessment of Contribution to Market Creation - Resilience: Currently, healthcare markets in emerging markets face a range of vulnerabilities. With COVID-19, these markets are under significant strain as service providers face exponential growth in treatment requirements and increasingly depleted supplies. To measure progress against this outcome, IFC will track improvements in functioning of supply chains and/or emergence of logistics infrastructure to support healthcare markets.

Standard Setting: Knowledge, innovation, and capacity building: IFC will bring to the table potential market access to clients, including member countries of the World Bank Group, expertise, and industry knowledge which will be critical in supporting BioVac's growth plans. IFC will seek to introduce the Company to potential strategic partners who will enhance its manufacturing operations by providing technical guidance and financial support as needed. IFC support in impacting procurement standards by Africa CDC, GAVI, WHO, and other agencies involved in vaccine procurement E&S Standard Setting: : IFC will help the Company to strengthen E&S systems both for the existing operations, promote climate-smart systems for a “green-rated” manufacturing facility. Financial additionality: Long-term financing and countercyclical role: IFC is providing long-term financing for immediate needs and beyond what BioVac is currently able to obtain in the market, given that it operates in a space that several lenders perceive as high risk.

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.