International Finance Corporation (IFC), a member of the World Bank Group, has proposed a $14-million investment in Alliance Healthcare (Private) Limited (AHL), a Pakistan-based healthcare operator.
IFC’s proposed investment, which is in the form of preference shares, aims to support Peshawar-based AHL’s plans for the expansion of its teaching hospital, growth capital expenditure for its existing facilities, and debt repayment, per its disclosure.
IFC’s investment also includes a blended concessional finance co-investment of up to $7 million in preferred equity shares.
Established in 2005, AHL operates a 320-bed flagship tertiary hospital, a medical college, and an institute of health sciences.
The healthcare group has 36 individual shareholders with the largest shareholder holding a 6.3% stake.
IFC said in the disclosure that the project will impact the expansion of a high-quality provider in an area with few high-quality options for patients, benefiting the healthcare system by strengthening medical education.
Among IFC’s recent investments in Pakistan, it approved a proposal to extend a $25-million senior loan to Packages Limited last year to help the firm refine its operation and increase investment in its overseas business. Earlier, IFC proposed an equity investment of an undisclosed amount in Pakistan-based EP Systems Limited, a financial technology firm that operates under the OneLoad brand.