Falck Africa SPV (IFC-36730)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 30, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Falck Danmark A/S
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 22, 2017

Disclosed by Bank Sep 16, 2015


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Project Description
This project finances investments in primary and secondary health clinics and hospitals, as well as in other health projects on an opportunistic basis.
Investment Description
  • International Finance Corporation (IFC)
This project involves equity financing in Falck Danmark A/S (Falck) and the Investment Fund for Developing Countries (IFU) to form a Special Purpose Vehicle investing in sub-Saharan Africa. This special purpose vehicle will invest in both minority and majority stakes in existing and greenfield companies. Falck is headquartered in Copenhagen and the main activities are to provide services aimed at preventing accidents and diseases, providing assistance in emergency situations and alleviating the after-effects. Falckā€™s services include among others ambulance services, firefighting services, safety training, and clinic/healthcare services. The Falck Group runs operations in 45 countries with more than 34,000 employees, and generated total revenues of approximately USD 2.1 billion in 2014. Falck will be the majority shareholder of the special purpose vehicle. IFU is a provider of capital and advisory services to Danish companies wishing to set up operations in developing countries. IFU invests on a commercial basis by committing equity capital or by providing loans or guarantees to project companies. IFU has co-invested with Danish companies in 780 companies in 89 developing countries, with committed investments totaling more than USD ~18 billion, of which IFU has contributed USD ~2 billion. IFU will be a minority shareholder of the special purpose vehicle.
Contact Information
Christian Bro Jansen Falck Danmark A/S Falck-Huset, Polititorvet DK-1780 Copenhagen V Denmark ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/