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Developing health services in East Africa with AAR Healthcare
Project
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Signature date
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Location
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Kenya, Uganda, Tanzania, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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8400000
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Financing details
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USD 9.4m Equity investment
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Customer
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Hospital Holdings Investment B.V.
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Type of customer
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Company
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Country of headquarters
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The Netherlands
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Project number
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PZZ1417
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Environmental and social ranking
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B+
Proparco is investing in AAR Healthcare, one of the main health service platforms in East Africa. This investment will develop new high-quality facilities in Kenya, Tanzania and Uganda
Client presentation
AAR Healthcare is one of the main health service platforms in East Africa. In 2018, it had 38 clinics and a hospital in Kenya, Tanzania and Uganda.
Project description
The project consists in a capital injection, alongside the investment fund IFHA II, IFC and several other development banks. This investment will finance the acquisition of two new hospitals, the construction of a fourth hospital, the development of new dialysis centers and maternity clinics, and the opening of new clinics in Kenya and Uganda.
Project impact
This project will strengthen healthcare provision in these countries, which are faced with a major need for high-quality health services.
In terms of job creation, the project aims to create and/or maintain 2,500 jobs between 2017 and 2023, with 60% of the staff made up of women.
This project will also have a direct impact on improving health services for women, with the development of new maternity centers.