Renata, one of Bangladesh’s leading pharmaceutical companies, is set to receive a long-term loan of $58 million (approximately BDT 700 crore) from the International Finance Corporation (IFC). The agreement between the two parties was signed on Thursday, as confirmed by an official press release.
According to the statement, the pharmaceutical sector plays a vital role in Bangladesh’s economy by driving exports and creating skilled employment. This funding is regarded by industry insiders as one of the most significant deals in the sector to date.
With this financial backing, Renata aims to further enhance its ability to supply affordable, high-quality medicines to the public. The funding is also expected to contribute to the country’s overall economic growth.
The release highlights that Bangladesh’s pharmaceutical industry already meets nearly all domestic demand and is steadily expanding into international markets. The IFC’s support will help ensure uninterrupted access to critical raw materials, strengthening Renata’s supply chain resilience. It will also accelerate innovation and export initiatives within the company.
Both Renata and IFC believe this partnership will help establish Bangladesh as a global leader in generic medicine production while solidifying the country’s contribution to international healthcare.
Renata’s CEO and Managing Director, Syed S. Kaiser Kabir, stated, “Given the challenges of dollar shortages, currency depreciation, and high local financing costs, IFC’s support at this time is crucial. We believe this will stabilize our supply chain and enable sustained growth.”
Imad N. Fakhoury, IFC’s Regional Director for South Asia, noted, “Our partnership with Renata will play a significant role in the growth of Bangladesh’s pharmaceutical sector, supporting supply chain stability and generating new employment opportunities.”
He added that this collaboration would make Bangladesh’s pharmaceutical industry more competitive and strengthen its position in the global generic drug market.
