Georgia Healthcare Group PLC (the “Group” or “GHG”) announces that its healthcare services business subsidiary, the leading private healthcare service provider in Georgia, and International Finance Corporation (“IFC”), a member of the World Bank Group, have signed a US$ 25 million loan agreement, with a maturity of eight-years.
This new loan facility will enable GHG to continue to finance its healthcare services business development programme, which includes the development of new hospitals as well as additional healthcare services, throughout the country.
“I am very pleased to announce the successful completion of another important long-term funding transaction and to start our co-operation with IFC, supporting the sustainable development of the Georgian healthcare sector. After the recent deleveraging of our balance sheet, following our successful IPO last year, new funding from Development Financial Institutions helps us to build a longer-term, less expensive funding profile. It helps us to renovate hospitals and develop new services, contributing to the successful implementation of our strategy.” commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.