EBRD, IFC co-support healthcare sector in Egypt, Morocco

EBRD, IFC co-support healthcare sector in Egypt, Morocco

The European Bank for Reconstruction and Development (EBRD) is supporting the development of high-quality hospitals in Egypt and Morocco, teaming up with other international financial institutions (IFIs) to deliver funding under an Islamic finance structure, known as a Commodity Murabaha, that the Bank is using for the first time.. The project aims to improve the quality of hospital services in both Egypt and Morocco beyond the current standards.. Egypt and Morocco, like other economies in the Southern and Eastern Mediterranean (SEMED) region, suffer from a low -quality healthcare, against a backdrop of fast-growing populations.. IFC said that the financing will help Humania develop a network of multispecialty hospitals and healthcare assets in Egypt and Morocco.. According to the IFC, Egypt's healthcare sector needs $60bn in investments by 2050 to meet rising demand for medical services, while Morocco is also facing a need to improve healthcare delivery, especially for women and young children.. Sobhi Batterjee, Chairperson of Humania said that healthcare and development are inextricably linked..