Africa Medical Equipment Facility

pending

The Africa Medical Equipment Facility (“AMEF” or the “Program”) is an up to US$150 million unfunded Risk Sharing Facility (“RSF”) established by IFC in partnership with local participating financial institutions (“PFIs”) and original equipment manufacturers (“OEMs”) to support small and medium-sized healthcare providers (“Healthcare SMEs”) access up to US$300 million in loans and leases with tenor of up to 7 years and finance the acquisition of much needed medical equipment in Cameroon, Côte d’Ivoire, Kenya, Rwanda, Senegal, Tanzania and Uganda (the “Countries”). The Program is expected to receive support from the IDA Private Sector Window (PSW) Blended Finance Facility (BFF) and the Global Financing Facility (GFF) in the form of up to US$18 million and up to US$6 million First Loss Guarantee (“Blended Concessional Finance Co-Investment”) respectively to facilitate the deployment of the Program’s first phase of US$100 million unfunded RSF to generate up to US$200 million of loans and leases in eligible countries. This support is expected to enable the Program to rapidly roll out and reach the healthcare sector in the Countries where access to medical equipment has historically been a challenge and in turn led to poor healthcare delivery and health outcomes. Without the Blended Concessional Finance Co-Investment, IFC will not be able to provide guarantees to the PFIs at a price that allows the PFIs in turn to provide access to finance to the health SMEs at a viable cost.Under the Program, IFC will seek to work with as many PFIs and OEMs as possible that will meet IFC’s due diligence and investment criteria and are interested to participate in the Program with its defined terms and conditions. Any local financial institutions operating in one or several of the Countries and any OEMs with presence either directly or through a duly authorized distributor in one or several of the Countries are encouraged to contact IFC to explore partnership under the Program.  IFC is also actively organizing outreaching activities to contact many potential market participants to explain the Program’s terms and conditions.