The project sponsor is Dr. Grigory Roytberg: the founder and President of the company which has been in operation since 1990. In addition to being a successful and respected entrepreneur, Dr. Roytberg is also a well published, internationally known cardiologist and Head of the Department of Family Medicine at the Russian State Medical University. Dr. Roytberg is also a member of the Russian Academy of Medical Science and an Honored Physician of the Russian Federation.

The sponsor, directly or indirectly, controls the company.

The project cost is estimated at Rb2.5 billion ($96.7 million) of which IFC proposes to finance up to $50 million through a combination of debt for its own account and equity. The exact balance between IFC debt and equity investments will be determined upon finalization of the financing plan.

60.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	50.0
Equity	10.0

* These investment figures are indicative

The proposed project site is adjacent to the company’s existing facilities located at Building 10, 2nd Tverskoy-Yamskoy Pereulok, Moscow. The site is located in central Moscow with access to transportation routes.

The project is expected to have significant development impact by:

- increasing access to quality primary, preventative, and secondary health care services in Moscow;
- demonstrating the superior outcomes (medical and financial) achieved by professional management and a long-term commitment to patient satisfaction and clinical quality; and
- attracting and retaining highly skilled physicians.

IFC’s value added to the Project and Medicina include:

- long-term financing compatible with scope and duration of the project; and
- enhanced credibility for the company and its management as it considers accessing the capital markets.

Medicina is a category B project according to IFC''s environmental and social review procedure. A summary of IFC’s environmental and social review findings for the project including the rationale for the B categorization will shortly be (is) publicly available in the Environmental and Social Review Summary (ESRS). The Environmental and Social Action Plan (ESAP), which is attached to the ESRS, contains specific tasks that the client will undertake to mitigate perceived risks and impacts from the project, and to ensure compliance with IFC’s Performance Standards.

The main environmental and social aspects of the proposed projects are: site acquisition and compensation for affected property owners and municipal tenants; community engagement; occupational health and safety during the construction phase, liquid and solid waste management including medical and bio-hazardous waste; worker health and safety including training and housekeeping; disinfection, sterilization, hygiene and implementation of good hospital management practices required to prevent infections among patients and employees; opportunities for energy conservation and efficiency as well as waste minimization; and fire and life safety including emergency response.

The company contains actions the hospital has committed to such as: adding a community grievance mechanism to their existing integrated environmental, health and safety management system; completing a Resettlement Action Plan concerning the relocation and compensation of private and municipal tenants in the buildings they propose to demolish for the new hospital; preserving the facades, as per local legislation, of the heritage buildings that are to be demolished; incorporating relevant labor issues and occupational health and safety into construction contracts; completing a Fire and Life Safety Master Plan and Audit of existing facilities, and corrective action plan, as necessary.