OPIC Provides Financing for Expansion of Aga Khan University Hospital in Pakistan
July 19, 2013
(OPIC)
Karachi, Pakistan – The Overseas Private
Investment Corporation (OPIC), the U.S.
Government’s development finance institution,
today signed a Loan Agreement with the Aga Khan
Hospital and Medical College Foundation for the
expansion of the Aga Khan University Hospital.
The agreement was signed by OPIC President and
CEO Elizabeth L. Littlefield and President and
CEO Firoz Rasul of the Aga Khan University, on
behalf of the Aga Khan Hospital and Medical
College Foundation, at the Aga Khan University
Hospital.
The agreement will help fund USD $30 million of
OPIC financing for the expansion of medical
health care facilities in Karachi, Pakistan
with the Aga Khan Foundation U.S.A. This
investment will fund the construction of a new
ambulatory care building, neonatal, medical and
pediatric intensive care units, a center for
innovation in medical education, a child-care
center, a new private wing, and additional
critical care beds.
The project will also help increase access to
high-quality healthcare by some of Pakistan’s
poorest citizens, while improving the country’s
capacity for developing needed training for
health and research jobs through its
contribution to the Aga Khan University’s
Medical College and School of Nursing and
Midwifery.
Overseas Private Investment Corporation
OPIC is the U.S. Government’s development
finance institution. It mobilizes private
capital to help solve critical development
challenges and in doing so, advances U.S.
foreign policy. Because OPIC works with the
U.S. private sector, it helps U.S. businesses
gain footholds in emerging markets catalyzing
revenues, jobs and growth opportunities both at
home and abroad. OPIC achieves its mission by
providing investors with financing, guarantees,
political risk insurance, and support for
private equity investment funds.
Established as an agency of the U.S. Government
in 1971, OPIC operates on a self-sustaining
basis at no net cost to American taxpayers.
OPIC services are available for new and
expanding business enterprises in more than 150
countries worldwide. To date, OPIC has
supported more than $200 billion of investment
in over 4,000 projects, generated an estimated
$75 billion in U.S. exports and supported more
than 277,000 American jobs.
Aga Khan University
The Aga Khan University is a major center for
education, training and research. Chartered as
Pakistan’s first private international
university in 1983, it has teaching sites in
Afghanistan, Kenya, Pakistan, Tanzania, Uganda
and the United Kingdom.
Aga Khan Foundation
The Aga Khan Foundation is a
non-denominational, international development
agency established in 1967 by His Highness the
Aga Khan. Its mission is to develop and promote
creative solutions to problems that impede
social development, primarily in Asia and East
Africa. Aga Khan Foundation U.S.A. was
established in 1981 and is based in Washington
DC.
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