The level of concessionality (i e., “subsidy“) provided by the blended concessional finance co investment is estimated to be approximately 60% of the total project cost. The total cost of the project is US$6.78 million This estimate is based on the difference between (i) a “reference swap rate” and (ii) the “concessional swap rate” being received by the IDA PSW LCF. Further details and historical information on estimated subsidy levels in IFC’s blended finance portfolio can be found at www ifc.org/blendedfinance. As is the case with all of IFC’s blended concessional finance co investments, this project has been assessed against the Enhanced Blended Concessional Finance Principles for DFI Private Sector Operations adopted by IFC and more than 20 other DFIs in 2017. Further information on these Enhanced Principles and IFC’s blended finance approach and governance can also be found at www ifc.org/blendedfinance. AMC is an integrated healthcare services provider seeing individuals and corporate clients within the Greater Accra and Western Regions of Ghana since 2012 and attending to over 80,000 patients in 2020. As part of its vision, it started the greenfield construction of a modern specialist hospital in Accra in 2019, which currently has 45 beds. The Project is the Phase 1 optimization of AMC’s medical services by adding and equipping the hospital in Accra with a maternity ward, offering 24-hour specialist services and a full spectrum of medical diagnostics and surgical services, as well as the expansion to Takoradi to open a 20-bed hospital to serve patients within the Western Region of Ghana, and the optimization of AMC’s financing structure with long term financing that will mirror the cashflow realities of the project.                                     

5.73 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	5.73
Equity

* These investment figures are indicative

IFC expects the Project to increase the delivery of high-quality healthcare services in Ghana. The project will do this by supporting the development of the new facilities. This will directly benefit patients in Accra and Takoradi and the larger community through the provision of enhanced specialist care, and contribute to the market’s development. The concessional rate for the cost of capital will accord AMC the ability to reduce service charges and/or introduce discount pricing to untapped segments of the market which could result in an expansion of AMC’s outreach to a larger populace. The funding will result in the provision of the following additional services at AMC Accra: (1) Obstetrics & Gyanaecology Services; (2) Neo-natal Intensive Care Unit ; (3) Intensive Care Unit /High Dependency Unit Services, and (4) Specialist Surgical Services. Access to critical care and emergency care services to help improve the capacity and quality of critical care services AMC Takoradi will be an ultra-modern 15 bed Physician Specialist and Medical Diagnostic Centre and expected to serve the Sekondi-Takoradi Community thereby helping to fill the void to accessible, affordable and reliable customer-oriented healthcare services within the Sekondi-Takoradi Metropolis.

IFC will provide long-term local currency financing, with support from IDA PSW LCF, for a tenor which is not available in the local market, as well as the international financial market, because liquidity has thinned with increased risk aversion for riskier emerging markets, including Ghana. Most economies in the Sub- Saharan Africa region have also witnessed downgrades in their credit ratings, an aftermath of COVID-19 pandemic. This Project will allow AMC to expand its outreach, strengthen its market position, and enable it to attract both financial and strategic investors.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.