Deutsche Bank is financing the construction of two new regional hospitals as well as five new medical units in five additional hospitals in the West African Republic of Côte d'Ivoire together with ICIEC Deutsche Bank has been mandated by the Ministry of Economy and Finance of the Republic of Côte d'Ivoire to finance the construction and equipment of two new regional hospitals as well as five new medical units in five hospitals in the country, together with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
Against a backdrop of the most severe health crisis in recent history, the project is an important milestone which will support the Republic’s current efforts to contain the COVID-19 pandemic. The project is also part of the government’s National Development Plan for 2016-2020, which the International Monetary Fund (IMF) and the World Health Organization (WHO) both support.
The two new hospitals, one located in Adzope (105km north of Abidjan) and the other in Aboisso (120km east of Abidjan), will collectively have a capacity of around 400 beds and will significantly improve the availability of healthcare services in each region using state of the art equipment.
In addition, the project will finance five new medical units in five hospitals across the country. They include a radiotherapy center in Abengourou, an emergency unit each in Daoukro and Seguela, a traumatology center in Toumodi, and a surgery and emergency unit in Bouna.
With a total financing value of 142 million euros, the project is already underway, with two new regional hospitals expected to be completed in October 2020.
Construction work is being carried out by Agentis International, a Moroccan-based company which specialises in health infrastructure with an existing successful track record in Côte d’Ivoire. The company is using local labourers, therefore also creating jobs.
“Deutsche Bank is deeply committed to supporting sustainable development projects in Africa”, said Claire Coustar, Deutsche Bank’s Head of Emerging Markets Structuring and the Institutional Client Group for Central and Eastern Europe, Middle East & Africa. “We are proud to partner with the ICIEC, enabling the Ivorian population to access a better healthcare system and helping Côte d'Ivoire achieve its National Development Plan targets. Furthermore, as the coronavirus crisis continues to be felt all around the world, the transaction is testament to how much our clients appreciate our advice and financial solutions in difficult times and acts as an example of how Deutsche Bank can help both clients and communities increase critical health infrastructure for years to come.”
In response to the ongoing pandemic, ICIEC has increased the availability of credit and political risk insurance to sustain imports of strategic commodities, investment protection, and to minimize volatility – and backing strategic projects with strong developmental impacts. CEO of ICIEC Oussama Kaissi states, “The unprecedented health impact of the pandemic is a human tragedy. Of course, these are compounded by the deep economic effects just beginning to be felt as a result of heightened uncertainty, risk, and the rapid deterioration in business confidence and activities. In these times, cooperation is more important than ever and ICIEC is very pleased to be partnering with Deutsche Bank for the first time on a project in Africa. ICIEC remains focused on facilitating critical investments and trade transactions, supporting the well-being and livelihoods of Member Country citizens”.
-Ends-
For further information, please contact:
Deutsche Bank AG
Media Relations
Mohanad Nahas Tim Oliver Ambrosius
Phone: +971 (0) 4 3611 754 Phone: +49 69 910 42648
Email: mohanad.nahas@db.com Email: tim-oliver.ambrosius@db.com
ICIEC Communication Contact:
Rania Binhimd Phone: +966 (12) 6467578
E-Mail: Rbinhimd@isdb.org
About Deutsche Bank in Africa
Since opening a representative office in Cairo in 1959, Deutsche Bank has strongly contributed to financing the development of infrastructure across the African continent. The bank uses its expertise in structuring and arranging financing to help countries access the traditional global capital markets and other alternative pools of liquidity.
Deutsche Bank has well over 200 staff providing banking services to our clients on the African continent. We have teams situated in our branch in Johannesburg, South Africa and representative offices in Lagos, Nigeria and Cairo, Egypt. In addition there are a number of coverage bankers and product specialists based in our regional hub for the Middle East & Africa, Dubai and other global hubs including Frankfurt, London and Geneva (amongst others), that provide banking services to clients and individuals domiciled on the continent.
Last year, in recognition of its key role in supporting the African economy, Deutsche Bank has been named as “Best Foreign Investment Bank in Africa” and “Best Foreign Investment Bank in Angola” by EMEA Finance African Banking Awards 2019.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
About ICIEC
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group. ICIEC was established to strengthen the economic relations between member countries of the OIC on the basis of Islamic Shariah. ICIEC’s vision is to be recognized as the preferred enabler of trade and investment for sustainable economic Release 3 | 3
development in Member Countries. Its mission is to facilitate trade and investment between member countries and the world through Shariah-compliant risk mitigation tools.
Disclaimers and disclosures
Deutsche Bank AG, Dubai (DIFC) Branch is a branch of Deutsche Bank AG located and registered in the Dubai International Financial Centre (DIFC) in the Emirate of Dubai, United Arab Emirates, with registered no. 00062. Principal place of business in the DIFC: Dubai International Financial Centre, Gate Village, Building 5, PO Box 504902, Dubai, United Arab Emirates. Deutsche Bank AG, Dubai (DIFC) Branch is regulated by the Dubai Financial Services Authority (“DFSA”) and is authorized to provide Financial Services to Professional Clients only, as defined by the DFSA.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
