Project Hippo (IFC-38280)

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
HOSPITAL HOLDINGS INVESTMENT BV
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)
$ 27.00 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)
$ 107.00 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 Sep 13, 2018

Disclosed by Bank Feb 23, 2018


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Project Description

The Project involves an IFC equity investment of up to US$22.0 million and debt investment of up to US$5 million in a newly established special purpose vehicle, Hospital Holdings Investment B.V (“HHI” or the “Company”), set up by an IFC investee fund, Investment Fund for Health in Africa II (“IFHA-II”), to finance the acquisition and integration of targeted healthcare services businesses in Sub-Sahara Africa (SSA). This is part of a US$107 million fund raising round being lead jointly by IFC and IFHA-II into the Company. The Company currently has one subsidiary, NGH Investment B.V, which in turn has a subsidiary, Kiambu Road Investment Limited. Kiambu Road Investment Limited has acquired 3 acres of commercial land along Kiambu Road, in Nairobi Kenya, for the construction of a greenfield hospital.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Contact Person: Menka Shah

Company Name:  Hospital Holdings Investment B.V

Address:  The Oval, 4th Floor, Ring Road Parklands, Nairobi, 

Email:  m.shah@ifhafund.com

Phone: +254 734 913 572

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/