Meet the group

PharmAccess is a group of non-profit organizations dedicated to improving access to quality healthcare in Africa. PharmAccess mobilizes public and private resources for the benefit of doctors and patients through clinical standards and quality improvements, loans for healthcare providers, health insurance, mHealth innovations and operational research.

This integrated approach is made possible by the following organizations:

Visit website
Visit website
Visit website
Visit website
Country Offices

 Country Offices

 

Ghana
Kenya
Nigeria
Tanzania
Contact
  • Who we are
  • Our approach
  • News & Publications

PharmAccess Foundation
AHTC, Tower 4C
Paasheuvelweg 25
1105 BP Amsterdam
The Netherlands

T: +31 (0)20 2103920
E: info@pharmaccess.org

  • Who we are
  • Our approach
  • News & Publications
Newsroom

European Investment Bank (EIB) supports Medical Credit Fund with USD 5 million for health facility investment

Medical Credit Fund (MCF) PharmAccess Group's non-profit health fund dedicated to providing loans to small and medium-sized healthcare facilities in Africa, has received European backing. The European Investment Bank, the investment arm of the European Union, has signed a USD 5 million (KhSh 514 million) loan agreement with MCF.

  • Nov 29, 2018
Suggested reads
  • Apr 13, 2022
    Cabinet Secretary for health, hon. Mutahi Kagwe lauds digital innovations as key to scaling health services to majority of Kenyans
  • Apr 07, 2022
    Maximising the Value of Health Data for Public Good: The Health Data Governance Principles
  • Dec 16, 2021
    Advance alternative financing mechanisms for universal health coverage in Nigeria

The fund, established in 2009, has been active in five countries in Sub-Saharan Africa by supporting local SMEs in the healthcare sector, bringing quality healthcare to underserved areas. With the EIB’s support, the fund aims to branch out into other Sub-Saharan countries, including Zambia, Senegal, Cameroon and Ivory Coast. EIB Vice President Ambroise Fayolle commented: “This project makes sense not only from a human, but also from an economic perspective, as healthy people earn more, save more and consume more, thus contributing to the economy. The Medical Credit Fund has been around for nearly ten years in Kenya, Uganda, Nigeria and Ghana, and the EIB is happy to support its expansion into further territories in Sub-Saharan Africa.”

MCF Managing Director Arjan Poels added: “We are thrilled and proud to add EIB as another investor in our fund. MCF is currently disbursing over 1,000 loans per year and has doubled in size three years in a row. We are working with 20 financial partners in the countries we operate to ensure more capital is being invested in African health sectors and have shown these partners that investing in the health sector is not nearly as risky as most financial institutions think. Through our Technical Assistance programme, we also provide support to strengthen the business aspects within investees as well as the quality of care they provide to the communities.”

Through local financial intermediaries, MCF aims to provide financing to health SMEs including clinics, pharmacies, diagnostics centres and hospitals. The EIB-loan has a tenor of seven years and is denominated in Kenyan Shillings to reduce the currency risk that operators in the area usually face.

Share
Tags: Africa credit developing world EIB European Investment Bank health investment MCF Medical Credit Fund
Quickly go to
  • Home
  • Management & Board
  • Our partners
  • Reporting
  • Vacancies
  • Contact
  • Publications
Follow us
  • Twitter
  • Linkedin
  • Facebook
  • Home
  • Management & Board
  • Our partners
  • Reporting
  • Vacancies
  • Contact
  • Publications
  • Kenya
  • Nigeria
  • Ghana
  • Tanzania
  • Twitter
  • Linkedin
  • PharmAccess@Medium
  • Disclaimer
  • Privacy statement
  • © 2022 PharmAccess Group. All rights reserved.
Our COVID-19 response
To serve you better and more personal we make use of cookies.

Accept
Read more
Change Settings
Cookie Box Settings privacy settings
Cookie Box Settings privacy settings

Privacy settings

Decide which cookies you want to allow. You can change these settings at any time. However, this can result in some functions no longer being available. For information on deleting the cookies, please consult your browser’s help function. Learn more about the cookies we use via our privacy statement.

With the slider, you can enable or disable different types of cookies:

  • Block all
  • Essential
  • Functionality
  • Analytics

This website will:

  • Essential: Remember your cookie permission setting
  • Essential: Allow session cookies
  • Essential: Gather information you input into a contact forms, newsletter and other forms across all pages
  • Essential: Keep track of what you input in a shopping cart
  • Essential: Authenticate that you are logged into your user account
  • Essential: Remember language version you selected

This website won't:

  • Remember your login details
  • Functionality: Remember social media settings
  • Functionality: Remember selected region and country
  • Analytics: Keep track of your visited pages and interaction taken
  • Analytics: Keep track about your location and region based on your IP number
  • Analytics: Keep track of the time spent on each page
  • Analytics: Increase the data quality of the statistics functions
  • Advertising: Tailor information and advertising to your interests based on e.g. the content you have visited before. (Currently we do not use targeting or targeting cookies.
  • Advertising: Gather personally identifiable information such as name and location

This website will:

  • Essential: Remember your cookie permission setting
  • Essential: Allow session cookies
  • Essential: Gather information you input into a contact forms, newsletter and other forms across all pages
  • Essential: Keep track of what you input in a shopping cart
  • Essential: Authenticate that you are logged into your user account
  • Essential: Remember language version you selected
  • Functionality: Remember social media settings
  • Functionality: Remember selected region and country

This website won't:

  • Remember your login details
  • Analytics: Keep track of your visited pages and interaction taken
  • Analytics: Keep track about your location and region based on your IP number
  • Analytics: Keep track of the time spent on each page
  • Analytics: Increase the data quality of the statistics functions
  • Advertising: Tailor information and advertising to your interests based on e.g. the content you have visited before. (Currently we do not use targeting or targeting cookies.
  • Advertising: Gather personally identifiable information such as name and location

This website will:

  • Essential: Remember your cookie permission setting
  • Essential: Allow session cookies
  • Essential: Gather information you input into a contact forms, newsletter and other forms across all pages
  • Essential: Keep track of what you input in a shopping cart
  • Essential: Authenticate that you are logged into your user account
  • Essential: Remember language version you selected
  • Functionality: Remember social media settingsl Functionality: Remember selected region and country
  • Analytics: Keep track of your visited pages and interaction taken
  • Analytics: Keep track about your location and region based on your IP number
  • Analytics: Keep track of the time spent on each page
  • Analytics: Increase the data quality of the statistics functions

This website won't:

  • Remember your login details
  • Advertising: Use information for tailored advertising with third parties
  • Advertising: Allow you to connect to social sites
  • Advertising: Identify device you are using
  • Advertising: Gather personally identifiable information such as name and location

This website will:

  • Essential: Remember your cookie permission setting
  • Essential: Allow session cookies
  • Essential: Gather information you input into a contact forms, newsletter and other forms across all pages
  • Essential: Keep track of what you input in a shopping cart
  • Essential: Authenticate that you are logged into your user account
  • Essential: Remember language version you selected
  • Functionality: Remember social media settingsl Functionality: Remember selected region and country
  • Analytics: Keep track of your visited pages and interaction taken
  • Analytics: Keep track about your location and region based on your IP number
  • Analytics: Keep track of the time spent on each page
  • Analytics: Increase the data quality of the statistics functions
  • Advertising: Use information for tailored advertising with third parties
  • Advertising: Allow you to connect to social sitesl Advertising: Identify device you are using
  • Advertising: Gather personally identifiable information such as name and location

This website won't:

  • Remember your login details
Save & Close