IFC, Proparco, DEG and DFC provide finance to Aspen for medicine, vaccine production

The International Finance Corporation (IFC), Proparco, the German Development Finance Institution (DEG) and the US International Development Finance Corporation (DFC) have announced a joint financing package for pharmaceuticals company Aspen Pharmacare to support the production and distribution of lifesaving medicines and vaccines in Africa. The €500-million loan package to Aspen Treasury Ireland, a wholly owned subsidiary of Aspen, includes €150-million from IFC’s own account and €350-million in parallel loans mobilised from DEG, DFC and Proparco, a subsidiary of Agence Francaise Development, the French government’s development finance institution.