MP Shah (IFC-37124)

Countries
  • Kenya
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
Proposed
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.
Borrower
Social Services League t/a Meghji Pethraj Shah Hospital Limited
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 Amount (USD)
$ 10.00 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)
$ 21.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank May 4, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
In 2012 MP Shah embarked on an aggressive expansion program which resulted in the construction of two new buildings consisting of 6 floors each (known at MP Shah as “the towers”), situated adjacent to the old hospital (on the same site), housing various specialist units including an adult ICU, pediatric ICU, operating theatre, and cardiac unit as well as a new oxygen plant. The project cost is some $21.1 million and construction of these two buildings is at an advanced stage of completion, with finishes and some equipment still outstanding. Another 6 floor building is planned which will house male and female medical and surgical wards (1st to 4th floor), a modern physiotherapy center at the ground floor, an oncology ward on 5th floor and 6-8 oncology sub specialty clinics on the 6th floor (known as the “physiotherapy tower”). By end of 2017, M.P. Shah Hospital will be operating 220 beds, up from the current 138. The IFC is proposing a senior loan investment to the MP Shah Trust of up to $10 million for upgrades to the hospital which will be used for the construction and equipping of the new physiotherapy building on the neighboring site owned by MP Shah and purchase of various key medical equipment (”the project”).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact Person: Anup Das, CEO Company Name: Social Service League - M.P. Shah Hospital Address: Shivachi Road, off Parklands Road Plot No. LR 209 / 6241 Nairobi Phone: (020) 4291000/ 0733606752/ 0722204427 Facsimile: (020) 3746177 Email: mailto:info@mpshahhosp.org 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/