UK Export Finance (UKEF), the UK government’s export credit agency, has lent €241m toward a €326m project to build six hospitals in the Ivory Coast, West Africa, with UK-headquartered NMS Infrastructure Ltd. contracted to do the work.
The hospitals will serve a catchment area of more than a million people, and will be built in Bouaké, Boundiali, Katiola, Kouto, Minignan and Ouangolodougou.
The financing, a mix of buyer credit and direct lending to Ivory Coast’s Ministry of Health and Public Hygiene, will fund design and construction, equipment, post-completion training and technical support.
“This record-setting UKEF facility in West Africa demonstrates the UK Government’s strong commitment to supporting sustainable economic growth across the African continent,” said Emma Wade-Smith, the UK’s trade commissioner for Africa.
“It provides a further example of the positive impact that UK companies are making, working in partnership with governments and the private sector in Africa to spur growth, investment and job creation.”
Japan’s largest bank MUFG Bank was selected as the preferred lender and mandated lead arranger for financing of the project.
UK firm GKB Ventures was appointed advisor to Côte d’Ivoire’s Ministry of Economy and Finance to run the tendering process.
Construction on the hospitals has already begun and is due to be completed in 2024.
Image: Bouaké, Ivory Coast (arno B/CC BY 3.0)