The International Finance Corporation (IFC), a member of the World Bank Group, has approved of a loan of 5.2 million U.S. dollars for the expansion of the Nyaho Medical Center, a leading private health service provider in Ghana.
The loan is to enable the health service company to expand its primary and emergency health care across the country to help stem the spread of COVID-19.
“We are pleased to support Nyaho’s expansion, particularly during this COVID-19 pandemic, because it will address the growing demand for quality medical services in Ghana,” IFC’s country manager for Ghana Ronke-Amoni Ogunsulire said.
She said IFC’s experience around the world showed that “in countries like Ghana, the combination of public and private health care solutions helps improve access to services and quality of life.”
“The partnership with IFC is very instrumental in achieving our mission of transforming the lives of patients and inspiring hope for a better Africa. The impact of the coronavirus pandemic is testament to the need for improving access to quality healthcare in Ghana,” the Managing Director of Nyaho Medical Center Elikem Tamakloe said.
IFC has an active portfolio of about 2.0 billion dollars in healthcare companies in emerging markets, including more than 165 million dollars in sub-Saharan Africa, as of December 2019.
Through these investments, the World Bank’s private sector wing supports efforts by governments to achieve universal health coverage.