· Through the partnership agreement, IFC will support its operations to enhance the company’s productivity by improving efficiencies in materials and resource usage.
The International Finance Corporation (IFC) has issued a statement announcing its partnership with Egyptian pharmaceutical producer Rameda to go ‘green’. Through the partnership agreement, IFC will support its operations to enhance the company’s productivity by improving efficiencies in materials and resource usage. It will also help Rameda adopt solutions to cut down its carbon and water footprints.
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Rameda produces a wide range of pharmaceuticals and supplements, at its three facilities in Cairo. The partnership will enable Rameda to save the scarce Water and energy resources and also lower costs while protecting the environment.
Yasmine Al-Hini — IFC Country Officer for Egypt and Acting Country Manager for Egypt and Libya remarked that IFC’s partnership with Rameda is in line with IFC’s strategy to support Africa’s health sector and also help the continent’s businesses reduce their environmental footprint. The Rameda project supported by the government of the Netherlands is also part of IFC’s North Africa pharmaceutical project in Egypt, Morocco, and Tunisia to improve the resource efficiency of the region’s pharmaceutical sector.
From 2016 onwards the IFC has been supporting climate projects to the tune of US $1bn. A US $100m financing was extended for the first private sector green bond issued by the Commercial International Bank (CIB) in Egypt to fund climate-smart proects. Apart from this, a green loan was given to Humania — a regional healthcare provider — to develop green hospital buildings in Egypt.
