Cairo – Mubasher: The US financial institution Overseas Private Investment Corporation (OPIC) signed a commitment letter worth $10 million with Egypt’s LimeVest Partners to support LVP Health Holding Ltd, according to a recent statement.

This is the first funding to be injected by the US government’s development finance institution into an Egyptian private equity firm as well as the first funding to be obtained by LimeVest Partners.

Such funding will be directed to “healthcare businesses in Egypt to boost their competitiveness, create quality employment opportunities, expand access to basic healthcare services, and promote the role of women in the workplace,” the statement revealed.

The report highlighted that healthcare expenditure in the most populous Arab nation amounted to $7.5 billion as of 2017, representing less than 4% of the country’s gross domestic product (GDP).

Source: Mubasher

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