MCF Africa (IFC-37873)

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
U
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
Sep 30, 2016
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
MEDICAL CREDIT FUND
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.
Project Cost (USD)
$ 16.20 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 Aug 26, 2016


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Project Description
The Medical Credit Fund (MCF) is a financing and technical assistance vehicle with a mandate to improve access to quality healthcare for underserved populations in Sub-Saharan Africa. It has successfully served the smaller end of the small and medium enterprise (&#8220;SME&#8221;) sector, including many first-time borrowers, for the last six years. To date, it has built partnerships with 10 local commercial banks in Kenya, Tanzania, Ghana and Nigeria, and has jointly extended 868 loans to healthcare providers, totaling over US$16.2 million, with MCF itself funding US$7.8 million.<br><br>MCF has identified an opportunity to scale-up its activities to serve more and larger healthcare SMEs on the continent, including businesses that cater to the health sector as well as health providers. To fund this scale-up and broadening of scope, MCF is raising US$35-40 million in additional financing (the &#8220;Project&#8221;).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Dorien Mulder Investment Manager MEDICAL CREDIT FUND Trinity Building C • Pietersbergweg 17 1105 BM Amsterdam • the Netherlands T +31 (0) 20 566 7121 • M +31 (0) 65 319 5853 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/