The European Bank of Reconstruction and Development (EBRD), FM Bank PBP, and Alior Bank have provided project financing for the development of the general hospital in Zywiec, Poland, through a PPP project.
The EBRD, with a €10 million loan, is joined by the commercial banks FM Bank PBP as Mandated Lead Arranger and Agent and Alior Bank as co-lender in the investment.
The project were planned to begin construction works three years ago, but InterHealth Canada, the preferred bidder, was not able to achieve financial closure until these days.
The total project investment is estimated at PLN184 million (US$49.5 million). The long-term loan will to be used for the design, construction, equipment and commissioning of the Zywiec Hospital. The funding will be provided to ICZ Properties and ICZ Healthcare, two subsidiaries of InterHealth Canada.
The project comprises the construction and operation of a general hospital. It will be developed on a design, build, finance and operation (DBFO) basis for a period of 30 years.
Frederic Lucenet, EBRD Director, Manufacturing and Services, said:
"We are confident that the cooperation of our Bank with an experienced healthcare provider such as InterHealth will result in fast and tangible results for the population of the Å»ywiec region. The new hospital will be built according to EU standards and benefit from the transfer of skills and know-how. With this engagement, the EBRD will draw upon its experience of supporting improving standards in many health projects across eastern Europe and northern Africa."
Nasser Massoud, InterHealth Canada's Executive Board Director responsible for global transactions and corporate development, stated:
"We are delighted to have secured the financing for the Å»ywiec Hospital from the EBRD along with FM Bank PBP and Alior Bank. This is a landmark project with InterHealth Canada providing both the infrastructure and the clinical services. We believe this will set a new benchmark and result in service improvements on many levels."