Jun 07, 2023 05:08 AM

BUSINESS

Fosun Pharma Secures $54 Million of IFC Loans for West Africa Plant

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What’s new: Shanghai Fosun Pharmaceutical Co. Ltd., a unit of private Chinese conglomerate Fosun Group, secured two loans totaling 50 million euros ($54 million) from the International Finance Corp. (IFC) to fund a project in Côte d’Ivoire, West Africa.

The loans will support Fosun Pharma’s construction of a pharmaceutical production facility and distribution center in Abidjan, the largest city of Côte d’Ivoire, according to the World Bank’s IFC.

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