US$14m funding for expansion of Rwanda's state-of-the-art King Faisal Hospital
The King Faisal Hospital (KFH) in Kigali secured US$14 million funding for expansion of its facilities from the Eastern and Southern African Trade & Development Bank (TDB).
KFH is a multi-specialty 160-bed quaternary hospital in Kigali, Rwanda, providing a range of specialized health care in Eastern and Central Africa.
In January 2020 the hospital commenced a Rwf19 billion (about US$20 million) renovation and expansion project to upgrade its facilities. Phase 1 of the upgrade involved the construction of a new wing with 45 new outpatient consultation rooms. The phase 1 works also included the renovation of the hospital's existing facilities, including the lobby and electricity installations, the installation of a ramp connecting the new building and the older one, as well as procurement of equipment.
Phase 1 of the infrastructure upgrade has been completed.
The US$14 million funding secured from TDB will support the ongoing expansion of the hospital’s outpatient facilities. The funding will also aid in constructing the outpatient block's research center, education block, and daycare premium facilities.
KFH and TBD agreed to a 6-year primary forfaiting transaction for the project.
The construction of the outpatient facilities is meant to make patient flow and experience more effective. Each specialty clinic will have its own consultation space and a dedicated triage by the end of the hospital upgrade project.
“The expansion of King Faisal Hospital will enhance much-needed access in the region to quality healthcare services and support the health and well-being of the Rwandese people,” said Admassu Tadesse, TDB Group Managing Director and CEO. “This transaction is an example of TDB’s growing financial support to the health sector in this more challenging market environment marked by the Covid-19 pandemic.”
Michael Awori, TDB Deputy CEO and COO added that: “for this transaction, TDB worked with the sponsor of the project, the contractor and Bank of Kigali Plc (BK), delivering 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 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.”
“The contribution of the Eastern and Southern African Trade and Development Bank (TDB) comes at a time when the hospital’s primary focus is to improve patient experience and the application of cutting-edge medical technology” said Prof. Miliard Derbew, King Faisal Hospital Chief Executive Officer.
He 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 our medical practitioners, train in highest level specialties and have a fully established research center.”
Top Photo: Architectural Rendering of King Faisal Hospital, Kigali, Rwanda (tk-int.com)