Hikma Pharmaceuticals obtained $200 million from the International Finance Corporation IFC to improve its drug distribution service in the MENA region.
This credit line includes a loan of up to $150 million from the IFC's account and a trust loan of up to $50 million from foreign investors interested in increasing their exposure to emerging markets. It will be used to meet the beneficiary's working capital needs and finance its expenditures over the next two years. Part of the money will also be pumped into the production and marketing of generic drugs in the MENA markets.
"We are pleased to continue this partnership with IFC. Hikma is committed to delivering essential medicines to its customers and patients during this critical time. IFC's financing will help us maintain this momentum and will be used for general corporate purposes that support our strategic growth plans," said Khalid Nabilsi, Hikma’s Chief Financial Officer.
This long-term loan is part of the $8 billion fast-track COVID-19 facility set up by the financial institution to support its clients and enable them to cope with the operational and financial impact of the covid-19 pandemic.
Chamberline Moko
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Tinubu appoints Bianca Odumegwu-Ojukwu as foreign minister Predecessor Tuggar resigned to run in 2027 election Move part of broader foreign...
Kenya, Africa CDC sign deal for regional health centre Nairobi hub to serve 14 states, boost outbreak response Initiative aims to strengthen...
Togo leader visits Kyrgyzstan to strengthen bilateral ties Talks with President Japarov to focus on investment cooperation Agreements...
Afreximbank targets DRC mining value chain with new financing strategy Plan focuses on bankable projects, asset-backed and early-stage...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....