IFC Health Newsletter | December 2021


Dear friends and colleagues,
This month we spoke with the IFC team that is training local banks and small and medium-sized healthcare businesses in Africa on how to use our new AMEF program to help with financing for life-saving medical equipment. Please contact us with any questions on the program.


Chris McCahan
Acting Head of Health and Education, IFC
Expert Voices: An interview with AMEF Advisory Team 
Bas Rozemuller (left) and Jose Gnangnon (right), IFC Africa Medical Equipment Facility Advisory Program
Bas Rozemuller and Jose Gnangnon are part of IFC’s team of advisors working with our new program for improving availability of medical equipment in Africa. We asked them about their recent experience training employees of Cote d’Ivoire and Kenya-based banks that joined IFC’s new Africa Medical Equipment Facility, known as AMEF. Read the interview here.
Thought Leadership 

The pandemic continues to expose major weaknesses with the global healthcare system, in particular the inequitable access to vaccines. Outgoing IFC Head of Health and Education, Elena Sterlin, explains how the weaknesses can be addressed by boosting local manufacturing capacity, especially in Africa, in a World Bank blog.

Our latest client case study charts the rise of Neolpharma in Mexico, which began as a maker of low-cost, generic medications for the public health system and has since branched out into other product types and countries. Neolpharma’s business model is centered on the development and manufacturing of high-quality, low-cost medicines for low- to middle-income populations.

Before COVID non-communicable diseases were a major health risk. Now, having been overtaken by the urgency of the pandemic, the need to address them is even greater. IFC’s Regional Industry Director for Manufacturing, Agribusiness, and Services Asia Pacific, Rana Karadsheh, discusses what can be done to tackle what could potentially be our next global health crisis in a LinkedIn blog

Webisode 2 in the 2021 IFC Health series looks at the positive dynamism in Africa’s healthcare markets. Investors Jide Olanrewaju, Partner at TPG Growth, and Afsane Jetha, Managing Partner & CEO of Alta Semper Capital spoke about innovative private sector models that are emerging that achieve commercial sustainability through integrated primary care, outpatients, and hospitals.

Webisode 3 discusses how to get digital health implementation right, with two CEOs in the digital health space, Nadine Hachach-Haram of Proximie, and Saul Kornik of Healthforce.io sharing insights. Four key questions need to be answered in deciding whether to proceed with a digital health solution: does it solve a problem, can it effectively be deployed, can the value it provides be measured, and can it be scaled.
New Deals

IFC Social Bond | IFC issued a $500 million social Floating Rate Note to make emerging market healthcare systems more resilient to pandemics. "This social bond issuance comes at a very important time," said Tomasz Telma, IFC's Senior Director for Manufacturing, Agribusiness and Services. "The pandemic has taken a huge toll in developing countries, and very clearly showed a need to shift our focus to creating a pandemic resilient health system that includes both private and public solutions."

Ayala Social Bond | Ayala Group will issue the Philippines’ first healthcare-focused social bond. IFC is partnering with Ayala by investing $100 million in its issuance, supporting the creation of an integrated healthcare ecosystem in the country. Social bonds tie the use of proceeds to projects that aim to achieve positive social outcomes, while also offering an avenue for investors to generate returns.
Photo Essay

How has the pandemic changed the nature of work for professionals in healthcare-related industries, especially those at companies in emerging markets? We spoke with four employees at Nobel Ilac A.S, a pharmaceutical company in Turkey (and IFC client), which manufactures injectables and pharmaceuticals. They reflect on how their jobs and professional relationships have been reshaped by COVID-19—and whether or not these changes are here to stay. Read the article here.
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