| Project Detail |
A Commodity Murabaha financing in the amount of up to USD 20 million (the "Facility") in favour of the operating subsidiaries of Humania North Africa Holding Company, a holding platform incorporated in Dubai International Financial Centre (DIFC) ("Humania"), with a 10 year tenor.
Project Objectives
Bait Al Batterjee Medical Company Limited (the "Sponsor" or "BAB") is building a healthcare platform ("Humania") focused on hospitals and clinics in North Africa. The EBRD, together with the IFC (International Finance Cooperation), OFID (OPEC Fund for International Development) and Finfund (Finnish Fund for Industrial Cooperation Ltd.), will finance the platforms construction and operation of (i) a greenfield general hospital in Alexandra, Egypt and (ii) a greenfield general hospital in Casablanca, Morocco (collectively, the "Project").
Transition Impact
The transition impact of the proposed project will be derived from the following qualities:
Competitive: The project will lead to an improved quality of services (beyond the current local standards) and seek a reputable internationally recognised certification for each of the hospitals (Joint Commission International "JCI");
Green: The project will be developed at standards beyond prevailing market norms in the healthcare sector in the region in terms of energy, water and construction material efficiency (as both hospitals will be certified under the EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification). |
