The project encompasses a state-of-the-art general hospital with 150 beds, three new operating theaters, modern X-ray solutions, and laboratories and pharmacies. The hospital will replace an existing, outdated facility and raise the standard for healthcare in Guyana to an international level. For SEK, it was pleasing and also important that the hospital was classed as a social loan, as an asset for the country’s entire population, which is an important factor for SEK’s mission to contribute to sustainable development.

The project is one example of how SEK is able to combine the company’s expertise with the competitiveness of Swedish companies to create long-term international value. The CIRR was decisive to ensure robust and foreseeable financing for Guyana’s Ministry of Finance, and with the help of EKN, SEK was also able to engage Swedish subcontractors.

The hospital was financed with a loan totaling EUR 135 million with a credit period of 13 years, with the guarantee from EKN covering 100 percent of the loan. The agent bank Unicredit played a central role in the partnership, and the Austrian EPC contractor Vamed, a company with extensive experience of similar projects across the globe, is responsible for the construction.

Construction is fully underway, with groundwork and material deliveries on site. The project is expected to be completed within three years and is an important steppingstone in improving Guyana’s infrastructure. SEK also sees considerable potential for future projects in the region, with Swedish companies being able to contribute to sustainable development by resurfacing roads and building more hospitals.

By financing EPC projects in new regions such as South America, SEK is strengthening the company’s role as a global partner for sustainable finance and creating opportunities for Swedish exports by also making impression on smaller and quickly growing economies.