TDB approves US $14m for expansion of King Faisal Hospital in Rwanda 100%

26 May 2021
TDB approves US $14m for expansion of King Faisal Hospital in Rwanda 100%

The Eastern and Southern African Trade and Development Bank (TDB) has approved US $14m for the expansion of the King Faisal Hospital (KFH)’s outpatient facilities in Kigali, Rwanda; in a 6-year primary forfaiting transaction.

King Faisal Hospital is a state-of-the-art, multi-specialty, 160-bed quaternary hospital that  provides a range of specialized healthcare in Eastern and Central Africa. The hospital is looking to revamp the outpatient clinic and double its facilities’ capacity.

TDB’s funds will also enable the renovation and construction of the outpatient block’s education and research centre, daycare premium facilities, electric substation, safety ramps, and main entrance and lobby. This will improve patient flow and clinic experience Each specialty clinic will have a dedicated triage and consultation space.

Improving the quality healthcare services

According to TDB Group Managing Director and CEO, Admassu Tadesse, the expansion of KFH will improve the access of quality healthcare services in the region and support the health and well-being of the people.

Michael Awori, TDB Deputy CEO and COO mentioned that for this transaction to take place, TDB worked with the sponsors of the project, the contractor and Bank of Kigali Plc (BK). This delivered liquidity to enable the project to continue its implementation, unlocking additional impact, especially given the premium placed on liquidity during COVID.

“Furthermore, apart from direct SDG-3 benefits, this expansion project will contribute positively to the country’s balance of payments, via new receipts from regional medical tourism in Rwanda, and savings from Rwandan medical tourism abroad,” he said.

King Faisal Hospital Chief Executive Officer, Prof. Miliard Derbew added that the construction of the education and research block will create an enabling environment for clinicians to develop innovative research projects that address Rwanda and the region’s unique clinical conditions and disease burden. “This would also promote continuous capacity development for the medical practitioners, train in highest level specialties and have a fully established research center,” said the CEO.