Hospital Aleman (IFC-40682)

Countries
  • Argentina
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.
Voting Date
Sep 14, 2018
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
Hospital Alemán Asociación Civil
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)
Loan
The categories of the bank investment: loan, grant, etc.
Loan 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)
$ 33.00 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 31, 2018

Disclosed by Bank Aug 13, 2018


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Project Description

Founded in 1867, Hospital Aleman is one of the leading non-profit private hospitals in Argentina. Currently, HA operates mainly in one location in Buenos Aires with 246 beds focusing on high complexity and secondary care services. In addition, the Hospital has its own health insurance plan.

The purpose of IFC’s proposed financing is to support Hospital Aleman’s approximately US$33 million expansion plan over the next 3 years which consists in adding a new building to its existing location.  The main capex investment is to develop the Juncal building (~10,000 m2, the “Project”) which will add 104 beds. This building represents a key milestone for the Hospital given its size and quality standards.

Investment Description
  • International Finance Corporation (IFC)

The total Project Cost is estimated at approximately US$33 million equivalent. The proposed IFC investment is a US$10 million corporate A Loan to finance the construction a new building which will add 104 beds.

Private Actors
Contact Information

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/