€326 million

Côte d’Ivoire Hospitals, ECA-backed Sovereign funding

Côte d’Ivoire

NMS Infrastructure Limited (NMSI) was looking to raise funds for the construction of 6 new hospitals through an export contract with the Côte d’Ivoire Ministry of Health and Public Hygiene.

The financing requirement was €326 million to be applied to the design, construction and equipping of the 6 hospitals to be located at Bouaké, Boundiali, Katiola, Kouto, Minignan and Ouangolodougou, as well as post-completion training and technical support.

On these transactions, Audrey Caulliez-Louis (when at MUFG) introduced NMSI as a new entity to MUFG, and was responsible for:

• Preparing the financial offer, seeking approval to proceed on a dual-tranche scheme (UKEF Direct Lending and UKEF-guaranteed tranche)

• Introducing this new client to a new investment bank partner and making an internal case on the impact of the project for a growing SME in the construction sector

• Initiating discussions on the financing Term Sheet.

This financing provided long-dated, low-cost financing to the Ministry of Health and Public Hygiene. The transaction also included the specific feature of incorporating a short-term (bridge) commercial loan in advance of the UKEF tranche to enable the project to proceed quickly whilst securing full price certainty to the Ministry of Finance across both tranches of the financing.

Transaction Size

€326 million


Structure ECA financing tranche to raise funds for a healthcare infrastructure asset