Fosun Pharma GHP (IFC-45021)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 420.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 9, 2024

Disclosed by Bank May 25, 2021

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank document, "The proposed IFC investment will primarily support Fosun Pharma’s manufacturing and distribution of COVID-19 related medical products, including the COVID-19 vaccine co-developed by Pfizer / BioNTech and COVID-19 testing kits and in China (the “Project”).

 Fosun Pharma is headquartered in Shanghai, China. The Project involves capital expenditures associated with the expansion of cold-chain warehousing and distribution networks across China. "

 

 

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

"The Project cost is estimated to be up to US$420 million. IFC’s proposed investment is a straight senior loan of up to US$200 million with a tenor of up to seven years".

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Shanghai Fosun Pharmaceutical (Group) Co. Ltd., (“Fosun Pharma”, or the “Company”) is a manufacturer of pharmaceutical products and medical devices in China. Fosun Pharma has been listed on the Shanghai Stock Exchange since 1998 and Hong Kong Stock Exchange since 2012.  The Sponsor is Fosun International Limited (“Fosun International”), which owns 36.6% of the Company while 63.4% is held by public shareholders.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Fosun International Limited Parent Company -
- - - - Shanghai Fosun Pharmaceutical (Group) Co. Ltd. Undisclosed -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/ The Project Contact

Shanghai Fosun Pharmaceutical (Group) Co., Ltd.

Contact: Mr. Zhang Xiang

Title: Finance Manager

Phone number: +86-21-33987000

Email: zhangxiang1@fosunpharma.com

Address: Building A, No. 1289 Yishan Road, Shanghai, China

Website: https://www.fosunpharma.com/en/

2/ The IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

Environmental documents will be made accessible to locally affected communities.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works