Nairobi, Kenya, August 15, 2023—Medical technology company Siemens Healthineers has joined IFC's Africa Medical Equipment Facility (AMEF) to make medical imaging and cancer care equipment more affordable on the continent. Siemens Healthineers' participation in the AMEF will help smaller healthcare companies in Kenya and Côte d'Ivoire to purchase or lease medical equipment to better serve patients in diagnosis and care.
The AMEF was launched in 2021 to support Africa's smaller healthcare operators, which often struggle to secure bank loans, to more easily access the equipment they need to serve patients across income levels. Siemens Healthineers offers a product and service portfolio in diagnostics, image-guided therapy and innovative cancer care, including artificial intelligence-supported applications and digital offerings, that play an increasing role in the next generation of medical technology.
"Limited access to financing is a problem for many of our customers in Africa. With more equitable access to imaging and cancer-care equipment, Siemens Healthineers and its Varian business can contribute to strengthening the continent's healthcare systems by enabling earlier diagnosis and treatment," said Ole Per Maloy, head of Siemens Healthineers in the Middle East, Southern and Eastern Africa. "Our Magnetom Free.Star MRI scanner, for example, with virtually helium-free cooling, means it can be installed in areas previously too remote to serve. IFC's AMEF program underpins our Access to Care strategy, making our healthcare innovations accessible to everyone, no matter where they live."
Non-communicable diseases such as cancer and cardiovascular disease are increasingly becoming the main cause of mortality in sub-Saharan Africa, according to the World Health Organization, largely due to weaknesses in critical measures like diagnosis and treatment.
"The Africa Medical Equipment Facility welcomes the participation of Siemens Healthineers, which will help make medical scanning equipment more accessible in Africa. Siemens Healthineers' innovative products will support more healthcare providers to expand access to life-saving care to underserved areas," says Henrik Elschner Pedersen, IFC Regional Industry Director in Africa for Manufacturing, Agribusiness and Services.
AMEF partners with financial institutions and medical equipment manufacturers to improve private sector healthcare delivery by enabling hospitals, clinics, labs, and others to acquire advanced medical equipment that improves access to quality and affordable healthcare.
AMEF is supported by the blended finance facility of the International Development Association's Private Sector Window and the Global Financing Facility for Women, Children and Adolescents.
The facility includes an advisory services program to help small healthcare businesses strengthen their medical equipment procurement processes, financial management competencies and business planning. The advisory program, active in Côte d'Ivoire and Kenya, will also help participating financial institutions strengthen their credit-underwriting skills for the healthcare sector.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
About the IDA Private Sector Window
The International Development Association's (IDA) Private Sector Window was launched in 2017 to catalyze private sector investment in the poorest and most fragile countries. Recognizing the key role of the private sector in achieving IDA's objectives and the World Bank Group's twin goals, the window provides a source of co-investment funding and guarantees to de-risk private investments supported by IFC and the Multilateral Investment Guarantee Agency (MIGA). The IDA PSW is an option when there is no commercial solution, and the World Bank Group's other tools and approaches are insufficient. For more information, visit: http://ida.worldbank.org/psw
About the Global Financing Facility for Women, Children and Adolescents (GFF)
The Global Financing Facility (GFF) is a multi-stakeholder partnership hosted at the World Bank that supports country-led efforts to improve the health of women, children and adolescents. With the GFF, countries are making smarter, more prioritized, results-focused investments toward greater impact on the health, nutrition and well-being of women, children and adolescents; building capacity for more sustainable funding for this agenda; and exploring more innovative ways to work with the private sector. www.globalfinancingfacility.org.
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