International Finance Corporation (IFC) has announced that it will contribute up to US$8.1 million loan equivalent in Bangladesh Taka (BDT) to Labaid Cardiac and General Hospital as a senior-secured A loan.

The project is expected to be supported by the IDA20 Private Sector Window Local Currency Facility (PSW LCF). The project involves the development of a new 100-bed multi-specialty hospital in the emerging residential area of Uttara, a large suburb located 15 km north of Dhaka city, Bangladesh. The project will improve access to high-quality care for patients living in Uttara and neighboring areas. The new hospital will be able to offer a variety of treatments. The project will increase competitiveness in the sector. The project will contribute to job creation by creating 500 direct jobs. 

As part of the project, IFC is negotiating to support Labaid Group in the areas of quality, energy efficiency, benchmarking and ESG through targeted consulting proposals.