ImpactAlpha, December 16 — Nairobi-based debt provider Medical Credit Fund has since 2009 made loans of more than €120 million ($135.5 million) to help more than 6,500 small African privately-run clinics add equipment and facilities.
MCF’s second fund will focus on clinics providing healthcare services such as malaria prevention and treatment, as well as maternal and childcare.
The fund “will help bridge the financing gap for small and medium-sized health businesses, allowing entrepreneurs to finance construction work, purchase equipment, and prevent medicine stock-outs,” said MCF’s Arjan Poels.
The U.S. International Development Finance Corp. provided a loan guarantee. MCF aims to leverage catalytic capital in upcoming years to grow the fund to €80 million ($90.4 million).
Investors in the fund include the Dutch Ministry of Foreign Affairs, CDC Group and Swedfund. FMO allocated €7.5 million ($8.5 million) in subordinated debt. Check it out.