December 21, 2012
An innovative approach that could transform Africa’s health care delivery with private sector financing obtained $10.6 million from the U.S. Government and a quartet of leading international foundations this week.
Called the Medical Credit Fund (MCF), it will enable small and mid-sized health care providers – clinics, laboratories, doctors and midwives – in Africa to receive the capital they need to improve their quality. At the same time, it will use internationally-certified clinical standards to gauge providers’ improvements and a technical assistance program to ensure that funding is well-spent.
The MCF this week concluded financing from the Overseas Private Investment Corporation (OPIC), the Calvert Foundation, the Bill & Melinda Gates Foundation, the Soros Economic Development Fund, the Deutsche Bank Americas Foundation and Dutch private investors, as well as grant funding from the U.S. Agency for International Development (USAID). Total Impact Advisors LLC advised the MCF on this financing transaction.