Developing countries' infrastructure for healthcare is deficient and the pressure on healthcare facilities is greatly increasing as the Covid-19 virus spreads. The Swedish development finance institution Swedfund invests in the Indian fund HealthQuad II, targeting early-stage companies in the health sector that creates long-term positive effects for India's growing population.
Pressure on healthcare facilities is greatly increasing in developing countries as the Covid-19 virus spreads. Based on long experience of working with sustainable investments in developing countries Swedfund supports actors in the healthcare sector in Nigeria, Madagascar and India with a total of 2,2 million SEK. The support includes personal protective equipment, medicines, and transports.
In order to support small and medium-sized companies following the Covid-19 outbreak the Swedish Development Finance Institution, Swedfund, now increases the liquidity available to these companies by lending 5 million EUR to Platcorp, a financial institution providing credit to private individuals and small and medium-sized companies, in Kenya, Uganda and Tanzania.
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Several clinics and hospitals have already received support. Now support is also going to a cancer clinic in Ghana as well as a healthcare facility in Liberia. At the top of the priority is protective masks, education and the possibility to separate people who are infected with Covid-19 from other patients and healthcare workers.
The Swedish development finance institution Swedfund has long experience of working in developing countries and was during the Ebola outbreak active in the countries most affected in Africa. Based on theexperience of investing in Africa, Swedfund has asked all its hospitals and clinics to specify how Swedfund can assist them in protecting personnel, clinics and hospitals from the Corona pandemic
According to WHO, more than 300 000 women died in 2015 from pregnancy related causes. Two thirds of these deaths occurred in Sub Saharan Africa. Some of the gaps leading to poor outcomes are delays in seeking care, delays in action or inadequate care by providers. Gaps that Jacaranda Maternity addresses through its maternal care model.
Swedfund commits 15 million dollars to Metier Sustainable Capital II, a fund focused on renewable energy in sub-Saharan Africa. In addition to investments in renewable energy, the fund will also invest in projects for resource efficiency in areas such as water and waste management.
LOLC Group subsidiary and LOFC (LOLC Finance PLC) has signed an agreement with Swedfund, to receive a total of 10 million dollars in a Senior Loan. LOFC is a leading financial institution in Sri Lanka that enables financial inclusion, an increased tax base and job creation. For Swedfund these are important tools to reduce poverty and support democratic development.
Swedfund joins several other European development finance institutions in a subordinated 15 million dollar-loan to Georgia's second largest bank, Bank of Georgia. Through lending to small and medium-sized companies in a systemically important bank, Swedfund contributes to supporting growth in Georgia.
Sweden's development financial institution Swedfund has invested 15 million dollars in the African Development Partners III fund. With this investment, Swedfund sees an opportunity to continue to contribute to the sustainable development and growth of more companies in Africa. The Fund exercises active ownership with a clear focus on ESG issues such as business ethics and anti-corruption.
Swedfund, have together with the Development financial institutions IFC, Proparco, Finnfund and the Danish Investment Fund for Developing countries - IFU, invested in Hospital Holdings Investment (HHI) holding company, launched at the Investment for Africa Forum in Cairo on November 23rd, 2019.
For the first time The UN PRI has launched a Leaders’ Group to highlight leading practices in Responsible Investing. Together with 47 other institutional investors, Swedfund has been selected amongst more than 2,300 signatories.
