The International Finance Corporation (IFC) has partnered with Renata Limited, a leading pharmaceutical manufacturer in Bangladesh, to provide a working capital loan of $58 million. The investment aims to accelerate economic growth while increasing the production of affordable, quality medicines in Bangladesh.
Bangladesh currently produces about 98 percent of its domestic demand for medicines. This time, the domestic pharmaceutical sector is looking to enter the international market. In this context, IFC’s support to Renetta is timely and important.
Through this investment, Renata Limited will be able to play a more effective role in improving its supply chain, entering new markets, developing innovative products, and achieving business stability. At the same time, the country’s pharmaceutical sector will be able to build a stronger position in the global generic medicines market.
This is IFC’s first investment in Bangladesh’s pharmaceutical industry, which will help attract more foreign investment in the future and increase Bangladesh’s contribution to international healthcare.
