Northwest Hospital Pakistan (IFC-44367)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Pakistan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Peshawar
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Active
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."
Voting Date
Apr 28, 2022
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.
Borrower
ALLIANCE HEALTHCARE (PRIVATE) 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)
$ 14.00 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 13, 2023

Disclosed by Bank May 25, 2021

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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 IFC, the proposed investment is to provide Alliance Healthcare (Private) Limited with  PKR 2 billion in the form of shares to support:

  1. completion of Phase 1 of NWTH (civil structure work for 9 floors, and finishing work for the ground floor and basement 1) and medical college (structure for all six floors is complete and IFC support is needed to finish the 5th and 6th floors and the remaining façade),
  2. construction of student housing,
  3. other capex for NWGH (including acquiring a new MRI scanner), and
  4. refinancing of existing debt.                                                  

Alliance Healthcare (Private) Limited (“AHL” or the “company”), was incorporated in 2005 by a group of medical professionals to develop healthcare facilities in Peshawar, the capital city of the province of Khyber Pakhtunkhwa (KP), Pakistan. The Company became fully functional in 2009 with commencement of operations by its flagship 300-bed Northwest General Hospital and Research Center (NWGH). Pathology, radiology, cardiology are some of the key departments of the hospital and it is the only private hospital in province to have Nuclear Medicine and Radiotherapy (approved by Pakistan Nuclear Regulatory Authority).AHL has expanded to include two medical education facilities and a teaching hospital (under construction), all of which are still in ramp-up or construction phase.

The impact of the project, accordinng to IFC are as follows : (i) expansion of a high-quality provider in an area with few high-quality options for patients, (ii) benefitting the healthcare system by strengthening medical education. Market-level impact: (i) potential for replication of systems by other players in the region leading to higher quality care, and (ii) trained staff going to work in other facilities in the region, thereby strengthening overall quality of care.

 

 

 

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

  

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Key environmental and social risks and issues identified include: i) the company’s capacity and systems to manage social, environmental, health and safety impacts during construction and operations, (ii) provision of fair and safe working conditions to its employees and contractors, including management of occupational health and safety, infection control and COVID-19 response measures iii) life and fire safety (LFS) management, iv) resource efficiency and (v) management of emissions and wastes including biomedical and hazardous waste.   

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

 IFC is proposing to provide AHL with up to PKR2.0 billion (up to approximately US$14 million equivalent) in the form of preference shares to fund the Project. Included in this amount, IFC as implementing entity of the IDA PSW Blended Finance Facility (PSW-BFF) is expected to invest up to US$7.0 million in preferred equity shares (“blended concessional finance co-investment”) as described as below.


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.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFCÕs Access to Information Policy Advisor, who reports directly to IFCÕs Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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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