Ex-Im Approves $155.4 Million Loan to Finance Hospital Expansion in Ghana
January 14, 2013
(Ex-Im Bank)
Washington, D.C. – In keeping with its focus on sub-Saharan Africa, the
Export-Import Bank of the United States (Ex-Im Bank) has authorized a $155.4
million direct loan to the Republic of Ghana to finance the design and
construction of a hospital expansion in Accra, Ghana.
Americaribe Inc. of Miami, Fla., will export the goods and services required in
the project.
The loan will support approximately 700 U.S. jobs, according to bank estimates
derived from Departments of Commerce and Labor data and methodology.
“This transaction, which is our second authorization for sub-Saharan Africa of
the calendar year, reflects our continued commitment to supporting exports to
Africa and the priorities of the President’s 2012 Presidential Policy
Directive,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Moreover,
the transaction will ensure Ghana can provide better healthcare to its people
and in the process support hundreds of U.S. jobs in a key sector.”
The Ridge Hospital Complex, which was built in 1928, serves as the primary
medical facility for the Greater Accra Region (GAR). Between 2000 and 2010, the
GAR population increased from 1.4 million to 3.9 million, and so the expansion
of the complex will help alleviate the capacity shortages. When completed, the
hospital will number among the most advanced medical facilities in West Africa
and will include a new 420-bed building housing a comprehensive diagnostic and
treatment block and a state-of-the-art maternity ward.
Americaribe, which incorporated in Florida in 2002, is a subsidiary of the
multinational group Bouygues and specializes in the design, engineering, and
construction of healthcare, education, transportation, residential, and
commercial projects.
“The Ghana Ridge Hospital is a key project for Americaribe’s business
development, boosting our activity and allowing us to create between 15 and 20
new direct jobs in the U.S. during the three years of the contract,” said
Jean-Baptiste Baudin de la Valette, president of Americaribe. “As of today, we
already have hired three new employees directly linked to this transaction. It
will also strengthen our relationship with our consultants and suppliers in the
U.S. and will allow them to maintain or create hundreds of technical and
specialized jobs. We have also created Americaribe Ghana Ltd., a company
registered in Ghana and 100% owned by Americaribe Inc., to execute the job.”
HSBC London and New York Project & Export Finance teams acted as financial
advisor
to the Government of Ghana throughout the Ex-Im Bank application and due
diligence processes.
In FY 2012, Ex-Im Bank authorized more than $1.5 billion to support U.S. exports
to sub-Saharan Africa.
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