Humania (IFC-42285)

  • Middle East and North Africa
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Voting Date
Jun 20, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 65.00 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.
Loan Amount (USD)
$ 35.00 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)
$ 355.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 26, 2019

Disclosed by Bank May 2, 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.

According to bank documents, the project is to incorporate a holding company, Humania, that will focus on developing a network of high-quality multispecialty hospitals and healthcare assets in emerging markets, mainly North Africa and Pakistan. Humania will be established by Bait Al Batterjee Medical Co., and will initially focus on four projects (total of 641 beds): acquisition of one operating hospital from BAB Group in Egypt; two greenfield projects in Egypt; and one greenfield project in Morocco. BAB Group will provide a turnkey development solution and operational support to Humania and all assets will be operated under the Saudi German Hospital banner.

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

Humania’s initial investment program has a total project cost of US$355m made up of US$225m in HoldCo equity and US$130m in Islamic finance project debt.

IFC’s proposed engagement will be up to $65 million in debt and equity as follows:

-          Equity: Invest $30m in convertible preference shares and support efforts to mobilize an additional $60m of HoldCo equity from AMC and other investors;

-          Debt: Provide project level Islamic financing of up to US$[35m] in the form of an A Loan and lead the mobilization of an additional [US$95m] of debt

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Bait Al Batterjee Medical Group is a leading provider of health services in MENA, operating over 2,500 hospital beds and employing over 12,000 people. Over the past 35 years, BAB Group has established itself as a foremost healthcare and education group in the Kingdom of Saudi Arabia. Its operating companies include: Saudi German Hospitals – a leading network of tertiary care hospitals with nine operating facilities in four countries across the GCC and North Africa (Saudi Arabia, United Arab Emirates, Egypt and Yemen); IHCC - a specialist in the design, planning, project management and construction of hospitals; and Al Batterjee Medical College - the largest private medical college in KSA.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Bait Al Batterjee Medical Group Client -

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.

Ahmed El Bakry 
+202 27369471
11th floor, 3 Abu El Feda st. Zamalek, 11211 Cairo P. O. Box 41766 – 00100 


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 You can learn more about the CAO and how to file a complaint at

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