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Sunday, 7 June 2020

Saudi German Hospital seeking IFC loan for Egypt expansion

INVESTMENT WATCH- Saudi German Hospital seeking IFC loan for Egypt expansion: The Saudi German Hospital Group is seeking a loan from the International Finance Corporation to finance its expansion plans, the local press reports, citing sources familiar with the matter who did not disclose the loan’s value but added that the group was discussing selling the IFC a stake in Egypt. They said that the expansion plans include the three-phase Batterjee Medical City on the outskirts of Alexandria in which it is investing around EGP 10 bn. Vice Chairman Makarem Batterjee said last year that the group is looking to invest EGP 40-50 bn in Egypt over the next 15 years, including inaugurating a second hospital in Cairo and adding an outpatient clinics building to its Heliopolis facility.

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