The Ministry of Finance will receive a social loan from Standard Chartered for EUR 149 million to fund the construction of a new Kilamba hospital in Angola.
The funding is backed by the Export Credit Agency (ECA) and UK Export Finance (UKEF). Standard Chartered is the only book-runner, original lender, facility agent, structuring bank, and mandated lead arranger.
Standard Chartered structured the funding to fully conform with the Social Loan Principles (SLPs). Additionally, it adheres to international best practices for managing social and environmental risks. Noteworthy, this is the first social loan to be received by the Angolan government.
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According to Claudia Conceicao, CEO of Standard Chartered Bank Angola S.A., the funds benefit the community of Kilamba and its surroundings, as well as the healthcare professionals in the community.
It also shows the government of Angola’s commitment to providing communities with facilities that guarantee better healthcare services for all.
Overview of the new Kilamba hospital project in Angola
Developed by the Angolan Ministry of Health, the hospital has ASGC UK Limited as the contractor in charge of managing the construction work. The work involves designing, constructing, and equipping the hospital. It is a part of Angola’s 2018–2022 National Development Plan, which the government oversees.
The new hospital upon completion will have seven floors and 250 beds. It will have a specialist burns unit, accident and emergency care, physiotherapy service, geriatric care, general and pediatric clinics, palliative care, surgery, pathology services, transfusion services, and infection control and prevention.
Therefore, Kilamba hospital in Angola will contribute to improving healthcare services for the city and surrounding areas in Kilamba. In addition, it will provide general healthcare services and also contributes to achieving Sustainable Development Goal 3 of the UN, which focuses on promoting healthy lives and encouraging well-being at all ages.