BSTDB Finances the Construction of a Hospital in Albania
Press Release | 16-Dec-2010
The BSTDB is providing a EURO 10 million loan to Hygeia Hospital Tirana ShA (Albania) to finance the construction and operation of a private hospital in Tirana.
The hospital will provide a wide range of diagnostic and treatment services and will offer health services which until recently were not available to the general public in Albania, such as digital radiation therapy and oncology treatment. The Project will lead to a higher degree of availability of private healthcare services in Albania and neighboring countries and will raise the quality of standards of living in the Region.
The Project is co-financed by the EBRD on the same terms and in the same amount as BSTDB. The financial and market due diligence report for the Project was financed by the Technical Cooperation Special Fund provided by the BSTDB Observer institution - Development Bank of Austria (the “OeEB”) and administered by the BSTDB.
“We are very pleased to finance this Project which has an important development impact enhancing the availability of much-needed quality healthcare services in Albania. It will also create new employment opportunities and introduce new medical technologies and know-how in the country. Besides, this operation has particular importance for BSTDB as it represents investment cooperation in the region between two BSTDB member countries.” stated George Kottas, BSTDB Secretary General signing the loan agreement.
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Hygeia Hospital Tirana ShA, a company registered in Albania for the purpose of construction and operation of the Hygeia private hospital. The company is a member of the Hygeia Group (Greece) established in 1970 by a group of Greek doctors, with the aim of creating a model private hospital in Greece. The Group is one of the largest private sector healthcare service providers in the South-Eastern Europe, employing more than 4,000 people and operating 9 hospitals in Greece, Türkiye and Cyprus.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The recently increased authorized capital of the Bank is SDR 3 billion (approx. USD 4,7 billion). BSTDB is rated A3 with stable outlook by Moody's.
Press Contact
Haroula Christodoulou
Tel: +30 2310 290533
Email: cchristodoulou@bstdb.org