The U.S. Export-Import Bank authorized a $155.4 million direct loan to Ghana to finance the design and construction of a hospital expansion in Accra.
Miami-based Americaribe will export the goods and services required for the project. The loan will support about 700 U.S. jobs, according to Commerce and Labor department data.
The Ridge Hospital Complex, which was built in 1928, serves as the primary medical facility for the Greater Accra Region (GAR). Between 2000 and 2010, the region’s population increased from 1.4 million to 3.9 million, requiring the hospital’s expansion. When completed, the hospital will number among the most advanced medical facilities in West Africa and will include a new 420-bed building housing a comprehensive diagnostic and treatment block and a state-of-the-art maternity ward, Ex-Im Bank said.
Americaribe is a subsidiary of the multinational group Bouygues and specializes in the design, engineering, and construction of healthcare, education, transportation, residential, and commercial projects.
HSBC London and New York Project & Export Finance teams acted as financial advisor to Ghana’s government throughout the Ex-Im Bank application and due diligence processes.
In fiscal year 2012, Ex-Im Bank authorized more than $1.5 billion to support U.S. exports to sub-Saharan Africa.