Washington, D.C./Managua, Nicaragua, July 24, 2008—
IFC is partnering with Hospital Metropolitano Vivian Pellas, a Nicaraguan provider, to help develop the health care industry. The project will bring high-quality and affordable health services to lower-income people in Managua. It will also help retain skilled professionals in the country.
IFC’s $11 million financing will support the company’s expansion plans, including the country’s first integrated oncology center, a new 32-bed hospital building, and a medical offices tower.
Hospital Metropolitano Vivian Pellas is considered the leading medical institution in Nicaragua, because of its investment in equipment and its experienced and vetted specialists.
Gilberto Guzman, CEO of Hospital Metropolitano Vivian Pellas, said, “We are delighted that IFC is helping expand our operations into a modern and efficient private hospital that will retain highly specialized doctors, nurses, and medical technicians in Nicaragua. We look forward to a fruitful partnership and to benefiting from IFC’s global expertise in the sector in promoting our medical tourism program, one of our strategic goals.”
Guy Ellena, IFC Director for Health and Education, said, “The expansion of Hospital Metropolitano’s operations will have a strong developmental impact, as it will increase access to health care, reaching more people through insurance programs. The facility will also serve as a center for excellence, with established clinical and patient care benchmarks for the country and the region.”
Marcos Brujis, IFC Senior Manager for Central America and Mexico, said, “Our support for this project is part of IFC’s strategy to strengthen social infrastructure services like health and education in Nicaragua and Central America. IFC will provide long-term financing with an innovative structure. We will also share environmental best practices and expertise in global health care to assist with Hospital Metropolitano’s growth plans.”
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.
IFC is expanding its operations in Central America, with a focus on supporting regional integration through private sector participation in infrastructure projects, including energy, transport, and health and education. IFC’s strategy also includes strengthening the financial sector, improving access to finance for small and medium enterprises, and supporting housing finance. IFC’s aim is to help firms involved in agriculture and other sectors improve their competitiveness and expand within the region and beyond. As of March 2008, IFC’s total committed portfolio in the region was $581 million.
About Hospital Metropolitano Vivian Pellas
For information on IFC’s partner, please visit: http://www.metropolitano.com.ni/
