China’s Fosun Pharma plans to build a facility in the Ivory Coast to manufacture anti-malaria drugs and antibacterial medicines with the help of a 100 million euro ($106 million) loan from the International Finance Corporation (IFC).

The IFC—a member of the World Bank Group—will support the project with two separate loans worth 50 million euros each to the Shanghai-based drugmaker. The facility, which will be located in Abidjan, Ivory Coast, is expected to have the capacity to produce 5 billion tablets annually, Fosun said in a June 6 press release.

The company didn't disclose the expected date of the project's completion.

Fosun, which touts itself as one of the world's largest anti-malarial drug manufacturers, supplies those products to the Global Fund, UNICEF, the World Health Organization (WHO) and national drug procurement centers in Africa.

In addition to supplying the much-needed drugs in Africa, the project will also clear the way for the transfer of medical and manufacturing knowledge to the region.