International Finance Corporation (IFC), Investment Fund for Developing Countries (IFU) – and PROPARCO have invested US$108.5 million in a private healthcare company Humania. This equity investment is to strengthen the capital base of Humania and enable it to its expand operations in Morocco and Egypt.
IFC released a statement that said the equity package includes US$ 45 million from IFC’s own account whiles the remaining US$63.5 million was mobilized from other bodies. Out of the remaining US$63.5 million the IFU invested US$43.5 million on behalf of the Danish SDG Investment Fund and French PROPARCO came up with US$ 20 million.
This investment has been hailed by the IFC as crucial particularly in this Covid – 19 pandemic era. The IFC explains that the financial support will help Humania develop a network of high-quality tertiary hospitals.
Sobhi Abdul Jalil Batterjee, Humania & BAB Chairman said “Our partnership with IFC, IFU and PROPARCO will help us make important investments during a time when the demand for quality healthcare keeps rising, It will allow us to provide affordable, high-quality healthcare, including specialist services, as Egypt and Morocco contend with COVID-19,”