New Crystal (IFC-41966)

Countries
  • Ghana
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
NEW CRYSTAL HEALTHCARE SERVICES LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 2.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 5.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 17, 2019

Disclosed by Bank Jun 14, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

New Crystal Healthcare Services (hereinafter referred to as “NCHS” or “the company”) is a registered hospital in Ghana. The group of hospitals was established in 2003. The company now operates 6 health services facilities; namely Ashaiman, Tema, Michel Camp, Afenyo Memorial, Adjei Kojo and Takoradi. The health facilities provide general clinical care, antenatal, obstetrics, gynaecology, dentistry, laboratory, x-ray, pharmaceutical and basic in-patient services. The subsidiaries include a specialist/ referral hospital, a standalone laboratory, diagnostic and imaging centre, a centralized medical supplies unit and a medical training school. Other centralized services sourced out to the group’s subsidiary business units include laundry and housekeeping. NCHS focusses on the middle to lower income population. The company plans to upgrade their healthcare infrastructure in the Greater Accra region (excluding Takoradi) to improve the healthcare service quality, offer more services, and to attract more patients to the facilities. The total project cost is estimated to be US$5.8m. IFC proposes a C-Loan investment of up to US$2.5m in NCHS to support the Project. The proposed investment will be used for renovation and expansion of the company’s hospitals to improve existing infrastructure, construct new clinical space, purchase necessary equipment, hire and train medical staff, and implement higher quality standards.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

 Contact Person: Dr Wisdom Amegbletor

Company Name: New Crystal Health Services Limited,

Address:  P.O. Box 540 Ashiaman, Accra, Ghana.

Email: wisamegbet@gmail.com

Phone: +233 544 347 237 / +233 501 264 598 

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/

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