TDB finances expansion of King Faisal Hospital in Rwanda
The Eastern and Southern African Trade and Development Bank (TDB), announced the financing of the expansion of Kigali’s King Faisal Hospital (KFH)’s outpatient facilities with over $14 million in a 6-year primary forfaiting transaction.
KFH is a multi-specialty 160-bed quaternary hospital providing a range of specialized health care in Eastern and Central Africa. In addition to the new outpatient clinic and doubling of the hospital’s outpatient facilities capacity to 45 consultation rooms, TDB’s financing will support the renovation and construction of the outpatient block’s education and research centre, day care premium facilities, electric substation, safety ramps, and main entrance and lobby. Additionally, patient flow and experience will be quicker and better, and each specialty clinic will now have a dedicated triage and consultation space.
KFH contributes greatly to the realization of Rwanda’s Health Sector Strategic Plan IV priorities and targets, in turn which support the achievement of SDG 3: Good Health & Well-Being in particular, as well as other goals indirectly.
Admassu Tadesse, Managing Director and CEO, TDB: “The expansion of King Faisal Hospital will enhance much-needed access in the region to quality healthcare services and support the health and well-being of the Rwandese people. This transaction is an example of TDB’s growing financial support to the health sector in this more challenging market environment marked by the Covid-19 pandemic.”
Michael Awori, Deputy CEO and COO, TDB: “for this transaction, TDB worked with the sponsor of the project, the contractor and Bank of Kigali Plc (BK), delivering liquidity to enable the project to continue its implementation, unlocking additional impact, especially given the premium placed on liquidity during COVID. Furthermore, apart from direct SDG-3 benefits, this project will contribute positively to the country’s balance of payments, via new receipts from regional medical tourism in Rwanda, and savings from Rwandan medical tourism abroad.”
Miliard Derbew, CEO, King Faisal Hospital: “The contribution of the Eastern and Southern African Trade and Development Bank (TDB) comes at a time when the hospital’s primary focus is to improve patient experience and the application of cutting-edge medical technology. The construction of the education and research block will create an enabling environment for clinicians to develop innovative research projects that address Rwanda and the region’s unique clinical conditions and disease burden. This would also promote continuous capacity development for our medical practitioners, train in highest level specialties and have a fully established research center.”
TDB has been active in Rwanda since its establishment in 1985, providing support to the Government and to corporate clients alike, across various sectors – at the service of the sustainable development of the country. This transaction builds on a donation of portable patient monitors to Rwanda Biometric Center (RBC) made last year as part of TDB’s Covid-19 Emergency Response Programme (CERP), in support of the Ministry of Health’s efforts to combat the Covid-19 pandemic in the country.