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    Signature(s)

    Amount
    € 4,297,747.98
    Countries
    Sector(s)
    Regional - Africa : € 4,297,747.98
    Services : € 2,148,873.99
    Health : € 2,148,873.99
    Signature date(s)
    6/09/2018 : € 2,148,873.99
    6/09/2018 : € 2,148,873.99

    Summary sheet

    Release date
    16 February 2017
    Status
    Reference
    Signed | 06/09/2018
    20160171
    Project name
    Promoter - financial intermediary
    MEDICAL CREDIT FUND
    PharmAccess Foundation
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 5 million (EUR 4 million)
    USD 48 million (EUR 43 million)
    Location
    Sector(s)
    • Services - Financial and insurance activities
    • Health - Human health and social work activities
    Description
    Objectives

    The project is a loan to the Medical Credit Fund (MCF), a fund that provides debt financing to healthcare providers and companies providing support services to the health sector in Sub-Saharan Africa. The fund's mission is to improve access to quality healthcare in Sub-Saharan Africa, especially for underserved populations.

    MCF will provide loans or partial guarantees to partner financial institutions and other intermediaries (such as non-bank financial institutions, leasing companies or supply chain partners), to on-lend as senior secured and partially secured loans and supply chain financing to the benefit of private companies across the healthcare value chain, including primary healthcare providers, networks of clinics and health facilities, and companies providing support services to the health sector (e.g. equipment maintenance, health worker training institutes, etc.). Loans will be accompanied with technical assistance to improve end-borrowers' business performance and quality of operations and/or to support MCF's financial partners in developing their healthcare lending activities. Access to healthcare services in Sub-Saharan Africa is generally scarce due to lack of infrastructure, low quality existing facilities and scarcity of medical staff of all types. About half of the healthcare services is provided by private actors. The private healthcare sector is highly fragmented and in majority composed of small and medium-sized enterprises (SMEs) with limited access to financing due to their lack of banking history and/or collateral and to the high investment risk and limited profitability conventionally associated with the health sector. MCF will therefore contribute to increased availability and quality of healthcare service (through financing of private hospitals, clinics and other healthcare providers), healthcare equipment and medical supplies, and healthcare support services.

    Environmental aspects
    Procurement

    MCF's operational guidelines include environmental and social guidelines that are in line with the EIB policies. Individual projects will benefit from individual approaches, depending on the size and area of intervention.

    MCF will be required to ensure that implementation of the underlying projects is done in accordance with procurement rules acceptable to the EIB.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - MEDICAL CREDIT FUND
    Publication Date
    11 Jul 2017
    Document language
    Main Topic
    Lending
    Document Number
    74160263
    Document Focus
    Environmental Information
    Project Number
    20160171
    Sector(s)
    Countries
    Publicly available
    Download now

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