IFC to invest US$10 million into building new hospitals in Indonesia

hospital

RS Awal Bros Hospital Group is to receive a 10-year loan from the International Finance Corporation (IFC), which the company will used to build new hospitals in Indonesia

The Group currently owns and operates eight hospitals across the islands of Java, Sulawesi and Kalimantan.

The IFC – a sister organisation of the World Bank and member of the World Bank Group – is headquartered in Washington DC in the US and invests in for-profit and commercial projects designed to reduce poverty and promote development around the world.

The IFC’s US$75-million 10-year loan to the Hospital Group will consist of two tranches: an up to $35-million loan expected in early 2020 and a second loan of up to $40 million.

The first part of the loan will be used to build three hospitals in Pasar Kemis, Semarang and Sukabumi, as well as to support the expansion of bed capacity in existing hospitals. Once the first three hospitals reach completion, the IFC will hand over the second part of the loan to support the build of further hospitals within the region.