America's DFC invests $5m in Africa Healthcare Network
Posted on : Monday, 31st May 2021
The US International Development Finance Corporation (DFC) has announced the first release of a $5 million direct loan to Africa Healthcare Network (AHN), the biggest dialysis clinic operator in East Africa.
The initiative is part of DFC's complete COVID-19 Response, which aims to mitigate the economic and health effects of the COVID-19 pandemic, as well as DFC's Global Health and Prosperity Initiative, which aims to enhance global health systems.
“During the COVID-19 pandemic and beyond, DFC will continue to assist global health and sustainable economic growth in developing countries,” said Algene Sajery, Vice President of the Office of External Affairs and Head of Global Gender Equity Initiatives at DFC.
“Through the operation of lifesaving dialysis clinics, our investment in AHN will extend access to inexpensive, high-quality healthcare across Sub-Saharan Africa.”
With 18 dialysis clinics in Kenya, Tanzania, and Rwanda, AHN is the largest and most extensive dialysis services provider in East Africa, providing high-quality, affordable care.
The DFC financing will enable AHN to continue to establish and run new dialysis clinics in Sub-Saharan Africa through collaborations with top institutions in the region.
The pandemic has disrupted global health systems and has hampered governments' ability to address and respond to non-communicable illnesses (NCDs). The DFC funding will assist expand patient access to safe dialysis treatment while also reducing disruptions to important health services.
DFC has adopted a diversified strategy to mitigating the effects of the COVID-19 epidemic since its inception, including offering quick reaction recovery loans to current DFC clients in developing nations; providing economic recovery loans to new DFC clients in vulnerable regions to promote small and medium-sized enterprises, particularly those owned or headed by women; and enhancing health systems.
DFC is also collaborating with the commercial sector, other DFIs, US government agencies, and other groups as part of the larger US worldwide response to the COVID-19 epidemic.
DFC's development strategy Roadmap for Impact, in addition to funding this initiative, is striving to build global health systems by working to give companies with capital to enhance capacity in the manufacturing, production, and distribution of vaccines, including the COVID-19 vaccine.
DFC is also emphasising investments that empower women and progress its 2X Women's Initiative, as women are disproportionately impacted by crises, particularly when seeking funding. The DFC is now inviting applications for its Global Health and Prosperity Initiative.
The agency hopes to invest between $5 million and $500 million in each qualified project using its complete suite of financial capabilities, which includes equity and debt finance, political risk insurance, and technological development. Projects that are eligible must have a significant impact on developing country health.
