Conclina Cumbaya (IFC-47589)

Countries
  • Ecuador
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."
Voting Date
Dec 13, 2023
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
CONJUNTO CLINICO NACIONAL CA
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)
$ 25.00 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 Nov 15, 2023

Disclosed by Bank Nov 9, 2023

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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.

The proposed investment consists of an IFC A Loan of up to US$25 million to Conjunto Clinico Nacional Conclina (Conclina or the Group), a leading integrated healthcare group based in Ecuador. The Group includes (i) Hospital Metropolitano, the leading high-complexity private hospital with 141 beds in the country which enjoys one of the strongest reputations for quality of care (first and only one accredited by Joint Commission International, JCI - a global healthcare certification), located in Quito; (ii) Humana, the third largest prepaid medicine insurance entity in the country; and (iii) Metrored, an ambulatory care network with 7 outpatient clinics in Quito, Cumbaya and Guayaquil.The proposed IFC loan will finance: (i) the construction of a new up to 70-bed-hospital under the Metropolitano brand in the Cumbaya area of Quito; (ii) two medical towers for doctor’s offices; and (iii) upgrades to the existing infrastructure of Hospital Metropolitano including digital transformation investments (“The Project”).

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

Contact Information
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ACCESS TO INFORMATION

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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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