|20 February, 2020

IFC supports private healthcare sector in Egypt, Morocco

Islamic financing package of up to $125mln to Humania, a private health care company, to support private health care in Egypt and Morocco.

Image used for illustrative purpose. Legs of medic running with gurney along hospital corridor.

Image used for illustrative purpose. Legs of medic running with gurney along hospital corridor.

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Cairo – Mubasher: The International Finance Corporation (IFC) has announced that it will facilitate an Islamic financing package of up to $125 million to Humania, a private health care company, to support private health care in Egypt and Morocco.

The IFC will be the lead arranger for the financing package, Ahram Online reported on Tuesday.

The international corporation will contribute $35 million of the loan and arrange the rest of the package from the Finnish Fund for Industrial Cooperation (Finnfund), the OPEC Fund for International Development, the European Bank for Reconstruction and Development (EBRD), and the IFC's Managed Co-Lending Portfolio Program (MCPP).

"Over the coming decade, the countries of the MENA region will be in need to make substantial investments in medical care to keep their fast-growing populations healthy," IFC’s vice president for the Middle East and Africa Sérgio Pimenta commented.

Source: Mubasher

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