PROJECT

Projects

Summary of Investment Information

Project Number

46787

Company Name

ZHENDE MEDICAL CO., LTD.

Date SPI Disclosed

Jun 28, 2023

Country

Kenya

Region

Africa

Projected Board Date

Jul 31, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Mar 15, 2024

Department

Regional Industry - MAS Asia & Pac

Industry

other

Previous Events

Approved : Aug 4, 2023
Signed : Nov 2, 2023
Invested : Mar 13, 2024

Sector

other

Project Description

Zhende Medical Co. Ltd. (“Zhende” or the “Company”) is a leading medical supplies manufacturer in China and has played a crucial role in protecting front-line healthcare workers worldwide during the pandemic by providing critical medical supplies, including personal protective equipment (PPE), surgical gowns and masks.

The Company is planning to construct a medical supply manufacturing plant near Nairobi, Kenya. This facility will primarily produce medical supplies such as gowns, gauze, syringes, and other basic medical consumables for the region. The proposed IFC loan is a A loan of up to US$70 million equivalent.

Associated Advisory Engagement

The IFC Upstream team has engaged with the Company in various advisory services, including: (i) support the Company with country and location selection in Africa; (ii) coordinate with a third-party consultant on a commercial and financial feasibility study; (iii) conduct local legal and regulatory evaluation; (iv) provide due diligence and bankability inputs early in the process; and (v) conduct early E&S assessment and provide guidance on local E&S compliance requirements.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation