Egypt - Andalusia Egypt Holding

This intervention concerns the provision of a senior loan to Andalusia Egypt Holding for Financial, a private joint stock company registered in Egypt, to finance the expansion of its capacity (from 229 beds to 445 beds and from 62 clinics to 85 clinics through the construction of a new hospital (6th October City Hospital) and the expansion of the existing Al Maadi Hospital in Cairo) in Egypt in order to provide quality health infrastructure services at an affordable price to a larger number of patients in Cairo. The project aims to help the Borrower significantly increase the level of healthcare services and reach a larger number of patients. In addition, the Bank's long-term financing is intended to strengthen the Company's balance sheet. Potential participation in the Project will increase the Bank's support to underserved health sectors in line with High 5 priorities. The proposed Project will have a significant impact on improving healthcare infrastructure through the promotion of new technologies, household benefits and job creation, budgetary implications, social and gender impacts, and private sector development. It will primarily serve the health and medical needs of the middle class and, once accredited by the General Authority for the Accreditation and Regulation of Health Care, it will cater for those eligible for cover under the Universal Health Insurance scheme, including the poor. In addition, high quality care will also be provided to the poor through the charitable trust and outreach services.