Financed ProjectsInternational Hospital

Identification Code:

OP/09/0754

Total Operation Cost:

63.800.000

Maturity:

117 months

Operation Status:

Description and Purpose of the Operation:

Provision of a debt financing to Hygeia Hospital Tirana ShA, Albania a member of Hygeia Group, Greece for partial financing the construction and start up operating costs of a private hospital in Tirana.

Countries of Operation:

Albania (100,00 %)

Financial Product:

Loans

Sector:

Health Care

Domain:

Private

Borrower/Client:

Hygeia Hospital Tirana ShA, is a subsidiary company of the Hygeia Group, Greece. Hygeia Group was established in 1970 and at present is the leader in the healthcare sector in Greece and one of the largest private providers of health care services in the Eastern Europe.

Co-Financiers/Participants:

EBRD with a loan of 10 million on the same terms and conditions with the BSTDB’s loan.

Guarantors/Sponsors:

Hygeia S.A.( Greece) , the parent company of the Hygeia Group

Developmental and Regional Cooperation Impact:

The Bank will support the development of the healthcare sector in Albania. The Operation will support and investment of a private Greek group in another Member State of the Bank and is expected to have significant cooperation and development impact.

Environmental Classification and Impact (summary):

Screened as B0. Environmental Assessment considered the following issues as being critical to the operation: 1) hospital management, policies and procedures; 2) air emissions and ventilation; 3) wastewaters and treatment; 4) clinical waste management; 5) radioactive waste management; 6) exposure to infections and diseases; 7) occupational health and safety; and 8) fire, safety and emergency procedures. As a result of assessment, a number of deficiencies have been identified, which will need to be addressed by the Hospital so that all the potential negative impacts resulting from its activity are properly dealt with. In this respect an Environmental Action Plan (EAP) has been drafted and it provides for such actions as: 1) development of appropriate EH&S policies and procedures; 2) development of a Waste Management Plan; 3) collection of laboratory wastewaters in a special holding tank which is then treated with chlorine before entering the municipal sewage system; and 4) initiate the process of applying for Joint Commission International (JCI) Accreditation to ensure best international practice in patient safety.

Operation Leader:

General Industries, Transport, Tourism 1, General Industries, Transport, Tourism 2

E-mail:

gitt1@bstdb.org,gitt2@bstdb.org