Intermed Hospital Expansion Project (ADB-56263-001)

Countries
  • Mongolia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ulaanbaatar
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
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
May 2, 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
International Medical Center LLC, MCS Mongolia LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 9.95 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 35000
Converted using 2023-05-02 exchange rate.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS May 9, 2023

Disclosed by Bank May 2, 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.

As stated by the ADB, the project consists of up to MNT35,000,000,000 or its equivalent in dollars in the form of a senior, secured, 5-year tenor loan to Intermed guaranteed by MCS to fund the construction of an 80-bed facility next to the existing hospital, 10 outpatient clinics, and 3 inpatient branches in rural parts of Mongolia.

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.

The ADB categorized the project as follows:

Environment B
Involuntary Resettlement C
Indigenous Peoples C
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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.

As stated on the company's website, Mongolia’s three leading companies, MCS Group, Energy Resources, and Shunkhlai Group, recognized their social responsibilities and invested in building an international standard, high quality medical facility, Intermed Hospital. They believe a quality hospital can improve the current image of the Mongolian healthcare industry and provide a local, affordable alternative to medical tourism abroad. Intermed Hospital opened in May 2014.

As stated on the company's website, set up in 1993 as an energy consultancy during Mongolia’s transition from socialism to democracy, MCS operates businesses in many sectors which are vital for increasing Mongolia’s economic growth. Today, MCS is one of the largest business conglomerates in Mongolia, operating leading companies in engineering, energy, communication, property, mining, FMCG, health, and hospitality.
MSC Group will guarantee the loan of the ADB.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Energy Resources Investor Energy
- - - - International Medical Center LLC Client Education and Health
- - - - MCS Group Investor Industry and Trade
- - - - Shunkhlai Group Investor Industry and Trade

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.

ADB Team Leader:

Dong Han - Office of the Director General, PSOD

No contacts available at the time of disclosure.

Client - International Medical Center LLC:

Address: Chinggis Avenue 41, Khan-Uul District 19, Uildver 17040, Ulaanbaatar, Mongolia
Phone: +97677011111
Email: Info@intermed.mn
Website: https://www.intermed.mn/

MCS Group (MCS Mongolia LLC):

Address: Shangri-La Ulaanbaatar Center 24th floor, Olympic street, Sukhbaatar District-1, Ulaanbaatar 14241, Mongolia
Phone: +(976) 7777 8833
Website: https://mcs.mn/en/

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works