New Crystal (IFC-41966)

Countries
  • Ghana
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
NEW CRYSTAL HEALTHCARE SERVICES LIMITED
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)
$ 2.50 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)
$ 5.80 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 Jun 17, 2019

Disclosed by Bank Jun 14, 2019


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Project 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
  • International Finance Corporation (IFC)
Contact Information

 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/