The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is joining a group of commercial banks to finance the construction of a new hospital in the city of Żywiec in south-central Poland with a €10 million long-term loan.
The EBRD is joined by the commercial banks FM Bank PBP as Mandated Lead Arranger and Agent and Alior Bank as co-lender in the investment.
The funding will be provided to the companies ICZ Properties and ICZ Healthcare, subsidiaries of InterHealth Canada Limited, a global healthcare management firm that specialises in the development and management of healthcare facilities and projects. InterHealth has been awarded a 30 year concession for the development and operation of the new hospital in Żywiec, accoridng to EBRD.
The loan will be used to finance the design, construction, equipment and commissioning of the new hospital in Żywiec. The investment is expected to significantly improve health care provision for the local community by replacing the existing hospital with new facilities.
Frederic Lucenet, EBRD Director, Manufacturing and Services, said: “We are confident that the cooperation of our Bank with an experienced healthcare provider such as InterHealth will result in fast and tangible results for the population of the Żywiec region. The new hospital will be built according to EU standards and benefit from the transfer of skills and know-how. With this engagement, the EBRD will draw upon its experience of supporting improving standards in many health projects across eastern Europe and northern Africa.”
Nasser Massoud, InterHealth Canada’s Executive Board Director responsible for global transactions and corporate development, stated: “We are delighted to have secured the financing for the Żywiec Hospital from the EBRD along with FM Bank PBP and Alior Bank. This is a landmark project with InterHealth Canada providing both the infrastructure and the clinical services. We believe this will set a new benchmark and result in service improvements on many levels.”
Since the beginning of its operations in Poland in 1991, the EBRD has invested €7.6 billion in more than 350 projects in the country. In 2014 alone the Bank financed 25 projects with a total commitment of €600 million, mainly in the financial institutions, energy, corporate, industry and infrastructure sectors.