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Ghana investing in hospitals with Swedish financing

SEK is financing the renovation and new build of two specialist hospitals in Ghana involving several Swedish companies that are supplying products and expertise. The hospitals will improve the lives of millions of people in the region, and women in particular.

Specialized maternity care

Facts

Transaction: Export credit
Amount: EUR 186 million
Maturity: 13 years
Borrower: Ministry of Finance, Government of Ghana
Buyer: The Ministry of Health Ghana will be responsible for operations
Guaranteed by: Swedish Export Credits Guarantee Board, EKN
Arranger: Investec Bank Ltd

Facts

Transaction: Export credit
Amount: EUR 186 million
Maturity: 13 years
Borrower: Ministry of Finance, Government of Ghana
Buyer: The Ministry of Health Ghana will be responsible for operations
Guaranteed by: Swedish Export Credits Guarantee Board, EKN
Arranger: Investec Bank Ltd

The west-African country of Ghana is making one of the largest healthcare investments in many years and is expanding and developing regional healthcare. The investment consists of a brand new, modern hospital and the modernization of an existing hospital, as well as state-of-the-art medical equipment. The hospitals will provide high-quality specialist care that will improve the lives of millions of people in the region.

SEK is financing the hospital project with an export credit of EUR 186 million. The transaction is guaranteed by the Swedish Export Credit Agency (EKN) and arranged by Investec Bank Ltd. Bluebird Finance & Projects has acted as lead financial advisor to the EPC (Engineering, Procurement and Construction) company Amandi Investment Limited.

“We are proud to, together with our Swedish exporters and financial partners EKN and Investec, support the investment with a social loan that will lead to a significant improvement in healthcare in the region.”

David Lindström, Director Export and Project Finance at SEK

The participation of Swedish companies as suppliers is a prerequisite for SEK and EKN to be able to finance and guarantee infrastructure projects abroad. Construction contractor Amandi Investment Limited is the EPC company that is coordinating the entire project, which was awarded to them by the Ghanaian government. The Swedish business facilitator, Elof Hansson Trade, together with the Swedish specialist in supply chain integration, XLIT Finance and Logistics, is assisting Amandi in coordinating the Swedish supply of products and services for the project.

”The continued strong Swedish support for global sustainable economic development, backed by Swedish financing and guarantees from SEK and EKN, is providing a great opportunity for countries looking to build important infrastructure and services for their people. Our agile and integrated Swedish offering of high-quality products and services facilitates for Amandi to implement this landmark healthcare project in Ghana on time and within budget.”

Fredrik Agerhem, CEO XLIT Finance and Logistics

Many Swedish companies are supplying products and expertise to the project This includes everything from ventilation, construction and electrical material, wall and roofing solutions, and medical equipment to project management, purchasing, logistics and installation.

The existing Effia-Nkwanta hospital, that is situated in north-west Ghana, will be modernized. The building requires repairs, asbestos removal, new cabling and water pipelines as well as a sewage system that meets modern standards. The new Agona hospital is being constructed in the same region, and when complete, the combined hospitals will provide 500 beds and include a center of excellence for specialized maternity care, obstetrics, gynecology and neonatal care. The hospitals will also house a trauma and emergency room unit, a burn unit, a medical imaging laboratory, advanced laboratory services and a chemotherapy unit. Training will also be offered to doctors, nurses and paramedics as part of the project’s implementation.

Would you like to know more?

Contact David for more information.

david.lindstrom@sek.se

08-613 83 13

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