IFC investment helps expand access to healthcare in Kazakhstan


IFC investment helps expand access to healthcare in KazakhstanIFC, a member of the World Bank Group, is investing USD 3mln in Archimedes Health Developments company to expand access to health services in Kazakhstan and other developing markets of the East Europe and Central Asia, IFC press service reports.

The investment lets IFC become a minority shareholder of the Archimedes Health Developments start-up, established by Archimedes Global. The IFC facilities along with extra USD 2 mln provided by Archimedes Global will help the company increase the network of its clinics and develop health insurance business though subsidiary enterprises in the countries of the region.

Kazakhstan is the largest IFC client in Central Asia. As of December 31, 2010 IFC invested above USD 1 bln of own means and attracted about USD 400 mln of syndicated loans to Kazakh private companies. Kazakhstan joined the IFC in 1993.