Johannesburg, South Africa, IFC, a member of the World Bank Group, today launched partnerships with leading health technology company Philips and the Co-operative Bank of Kenya to help smaller businesses in Africa’s health sector purchase essential medical equipment and strengthen their response to COVID-19 and other pressing healthcare challenges.
The partnerships are the first under the IFC-led Africa Medical Equipment Facility, designed to provide risk-sharing facilities to help small businesses access up to USD 300 million in loans and leases. Through the facility, IFC is partnering with medical equipment manufacturers and local financial institutions to support healthcare providers in Cameroon, Côte d’Ivoire, Kenya, Rwanda, Senegal, Tanzania, and Uganda.