IFC proposes extending $146m loan to Chinese medical manufacturer Yuwell

IFC/World Bank HQ. Photo: IFC

World Bank Group member International Finance Corporation (IFC) is considering extending a $146-million loan to listed Chinese medical device manufacturer Jiangsu Yuyue Medical Equipment & Supply Co (Yuwell).

Yuwell is spending $304 million to expand the production capacity of its life-saving products, such as ventilators and oxygen concentrators, which are highly in demand due to the COVID-19 pandemic, IFC said.

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