Summary of Proposed Investment
Project Number
10667
Company Name
Asian Eye Institute, Inc.
Date SPI Disclosed
Mar 27, 2001
Country
Philippines
Industry
Health, Education and Life Sciences
Projected Board Date
Apr 30, 2001
Status
Completed
Sector
Hospitals and Clinics
Department
Regional Industry - MAS Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Jun 7, 2001
Signed : May 20, 2003
Invested : Dec 29, 2003
Project Description
The project will establish AEI, which will be the first comprehensive eye care ambulatory center in the Philippines to provide a complete range of services for diagnosis and management of eye diseases. AEI would have state-of-the art facilities and a world-class medical team composed of eight Filipino doctors who underwent training at the Massachusetts Eye and Ear Infirmary, a Harvard University affiliated teaching hospital. In addition to providing clinical services, AEI aims to build a specialized training and research ophthalmology facility that could serve the south east Asia region. AEI also plans to play an active role in the delivery of ophthalmological care to underserved populations.
As much as 85% of man''s learning and work processes require the sense of sight. Therefore its conservation, promotion and restoration when temporarily lost, are a key requirement for long term sustainable economic and social development. Bilateral blindness is regarded as a serious public health problem in the Philippines. To address this concern the government developed a national prevention of blindness program in the early 1990s. To some extent this program has been successful in reducing the bilateral blindness rate in the country from 1.07% (in 1987) to 0.70% (1995). AEI will be actively supporting the national program by providing cataract surgery, eye facility development and manpower training.
IFC primary role would be to provide long-term financing. Health in the developing world remains a sector where financial institutions are reluctant to invest. By playing a lead role, IFC will demonstrate to others the commercial viability of private investment in innovative healthcare institutions such as AEI, that take on training, research and social responsibilities in addition to providing clinical services.
As much as 85% of man''s learning and work processes require the sense of sight. Therefore its conservation, promotion and restoration when temporarily lost, are a key requirement for long term sustainable economic and social development. Bilateral blindness is regarded as a serious public health problem in the Philippines. To address this concern the government developed a national prevention of blindness program in the early 1990s. To some extent this program has been successful in reducing the bilateral blindness rate in the country from 1.07% (in 1987) to 0.70% (1995). AEI will be actively supporting the national program by providing cataract surgery, eye facility development and manpower training.
IFC primary role would be to provide long-term financing. Health in the developing world remains a sector where financial institutions are reluctant to invest. By playing a lead role, IFC will demonstrate to others the commercial viability of private investment in innovative healthcare institutions such as AEI, that take on training, research and social responsibilities in addition to providing clinical services.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Leonides U. Garde
Business Director
Asian Eye Institute
c/o First Philippine Holdings Corporation
4th Floor, Benpres Building
Exchange Road corner Meralco Avenue
Pasig City, Philippines
Business Director
Asian Eye Institute
c/o First Philippine Holdings Corporation
4th Floor, Benpres Building
Exchange Road corner Meralco Avenue
Pasig City, Philippines