IFC proposes a debt investment comprising a senior secured A loan of up to US$60 million to Renata PLC (the Company or Renata) with a tenor of up to six years, including a one-year grace period, to finance working capital needs of the Company (the Project).

Renata PLC is one of the leading pharmaceutical companies in Bangladesh. The sponsors, Sajida Foundation, with a majority shareholding of 51.09% (as at 30th June 2023 and as at 31st March 2024) acquired the business 30 years ago from Pfizer. Renata has grown to become the fifth-largest pharmaceutical company in Bangladesh by revenues.

The Project supports the ongoing operations of the Company in manufacturing and distributing essential medicines and helping the importation of key materials for those products during uncertain macroeconomic conditions, such as higher prices of raw materials and foreign exchange shortages. This will enable continued and appropriate access to pharmaceuticals for patients in need in Bangladesh, support the Export growth ambitions of the Company, in addition to preserving the skilled workforce of the Company. 

 IFC will also provide advisory services (AS) through its Partnership for Women’s Employment, a peer learning initiative for select private sector companies in Bangladesh. IFC will help Renata improve gender diversity and inclusion in its workplace by providing recommendations, guidance, and tools to improve policies and practices, and align with local and international best practices. IFC will also support the Company’s environmental and sustainability management through adoption of global international industry practices by complying with IFC Performance Standards.