Farah Expansion

pending

The Farah Group (“Farah” or the “Group”) is a leading healthcare services provider in Côte d’Ivoire, operating several facilities in Abidjan. These include:• Polyclinique Farah, a 131 bed multi specialty hospital that also houses the Group’s current ophthalmology practice;• Espace Médical Yopougon, a 67 bed hospital;• Clinique Médicale Trade Center, an outpatient facility in Plateau; and SOS Abidjan, which provides emergency care services.Polyclinique Farah includes an expansion project known as Farah 2.The Group does not operate under a holding company structure; instead, each facility is directly owned by the same set of shareholders.The proposed IFC investment consists of a partial credit guarantee of up to XOF 12.9 billion (EUR 19.6 million) to a commercial bank, together with the mobilization of an additional XOF 12.9 billion (EUR 19.6 million) from the same institution. The financing will support construction of two new medical facilities in Abidjan (the “Project”): an oncology center and an ophthalmology center.• The Oncology Center (“Onco Center”) will be developed on a 6,391 m² plot in Adjame Indenie. The facility is planned to include 60 beds and will be equipped to provide radiology, chemotherapy, and radiotherapy services. Construction is expected to begin in the first quarter of 2026.• The Ophthalmology Center (“Optho Center”) will comprise the existing ophthalmology services currently operating within Polyclinique Farah. It is being constructed on a new 743 m² site in Cocody Danga, where approximately 65% of the works had been completed at the time of IFC’s visit.To implement these two sub projects, the Group has created two Special Purpose Vehicles (SPVs) ICRA & HIOA. These SPVs (together, the “Project SPVs”) will act as co-borrowers for the proposed loan.