An agreement was signed between IFU and AKS Khan Pharmaceuticals at a hotel in Dhaka on Wednesday. AKS Holdings Chairman AK Samsuddin Khan and IFU Chief Executive Officer Lars Bo Bertram were present at the signing ceremony. The Danish Investment Fund for Developing Countries (IFU) will invest $12.3 million in AKS Khan Pharmaceuticals with an eye to expanding quality healthcare in Bangladesh.
Through this engagement, the IFU reaffirms its commitment to Bangladesh by making new strategic investments aimed at driving sustainable development.
To this effect, an agreement was signed at a ceremony hosted in a city hotel on Wednesday evening, according to a statement.
A high-level IFU team, including CEO Lars Bo Bertram, visited Bangladesh for a deal-signing ceremony with AKS Khan Pharmaceuticals.
Christian Brix Møller, the Danish ambassador in Dhaka, also joined the event.
Denmark, a long-standing partner of Bangladesh since its independence, continues to show unwavering support for the country's growth, the interim government and its private sector, reads the statement.
At the programme, envoy Møller said, "IFU's investment is a statement of trust and confidence towards the private sector in Bangladesh, and also to the interim government, especially in a pivotal moment when Bangladesh has seen an uprising and is making efforts to rebuild the nation."
The IFU's latest investment in the pharmaceutical company focuses on the healthcare sector and supports the expansion of quality and accessible healthcare to the people of Bangladesh.
The IFU team also conducted a site visit to Saidabad Water Treatment Plant and called upon both industries and LGRD advisers, discussing ongoing projects and further scope for collaboration.
The IFU confirms commitment to contributing to Bangladesh's ambition to build a sustainable, green and competitive economy in line with global best practices, according to the statement.
Though the statement did not disclose the investment amount, information available on the IFU official website reveals that total investment will be an estimated $12.3 million.
Currently, the IFU has active investment in KAFCO. Earlier, it accomplished investment in eight projects, mostly in the apparel sector, reveals the website.
The IFU is an independent government-owned fund offering risk capital to companies in developing countries and emerging markets.
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