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.
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.
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/