IFC (International Finance Corporation), a member of the World Bank Group, today announced a $5.2 million loan to Nyaho Medical Centre to support the Ghanaian health care provider’s expansion outside Accra and the upgrade of its existing hospital so it can better serve its patients.
IFC’s loan, which comes as access to quality health services is more important than ever because of COVID-19, will help Nyaho establish primary and urgent care facilities in the cities of Tema, Takoradi, and Kumasi, and upgrade its main hospital in Ghana’s capital, Accra.
Dr. Elikem Tamaklo, Managing Director of Nyaho, said, “The partnership with IFC is very instrumental in achieving our mission of transforming lives of patients and inspiring hope for a better Africa. The impact of the coronavirus pandemic is testament to the need for improving access to quality healthcare in Ghana.”
Ronke Ogunsulire, IFC Country Manager for Ghana, said, “We’re pleased to support Nyaho’s expansion, particularly during this COVID-19 pandemic, because it will address the growing demand for quality medical services in Ghana. Our experience from around the world shows that in countries like Ghana the combination of public and private health care solutions helps improve access to services and quality of life.”
In addition to financing, IFC has been advising Nyaho on continuing to improve the quality of its facilities through IFC’s Healthcare Quality Assessment Tool, andon receiving IFC’s Excellence in Design for Greater Efficiencies (EDGE) certification.
The Healthcare Quality Assessment Tool helps hospitals and clinics, especially in emerging markets, achieve better patient safety, clinical quality, and care outcomes. EDGE certification will mean the facilities are designed and built in a way that reduces energy and water consumption and uses sustainable building materials.
IFC has an active portfolio of about $2 billion in healthcare companies in emerging markets, including more than $165 million in sub-Saharan Africa, as of December 2019. Through these investments, IFC helps private providers support governments in their goal of reaching expanded or universal health coverage.
About IFC:
IFC—a sister organization of the World Bank and a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities where they are needed most.
In the 2019 fiscal year, we delivered more than $19 billion in long-term financing for companies in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
