IIC provides US$10 million in financing to build a world-class, high complexity hospital in Cartagena, Colombia

10/28/2014

The IIC loan supports the health sector and will create more than 400 jobs across the Caribbean region of Colombia

Washington, D.C., October 28, 2014 — The Inter-American Investment Corporation (IIC) approved a subordinated loan of up to US$10 million to Centro Hospitalario Serena del Mar (CHSDM) to finance the construction and operation of a high-complexity university hospital in Cartagena, Bolívar department. This hospital will be operated by Fundación Santa Fe de Bogotá, with the backing of the Haime family—mainly through Fundación Carlos y Sonia Haime.

In the first phase, seven hectares of land will be developed, with the construction of 50,000 m2 of hospital space and a capacity of 151 beds—part of a substantial real estate development in the area. The estimated cost of the project is approximately US$115 million.

The hospital will provide health services to the inhabitants of a highly underserved region and to international patients. 

“Centro Hospitalario Serena del Mar is expected to be one of the most technologically advanced hospitals in Colombia, offering the highest standards of specialized care and contributing to improved medical services coverage in the Caribbean region of Colombia, thereby having a high social impact upon the local population,” said Olga Lucía De Narváez, the IIC Lead Investment Officer in charge of the operation.  

CHSDM is a special-purpose enterprise incorporated in Colombia to develop this hospital which will focus on orthopedics, cardiology, neurology, oncology, minimally-invasive surgery, and obstetrics.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC, visit www.iic.org.

Contact: Olga Lucía De Narvaez

Telephone: +(571) 325-7052 in Bogotá, Colombia

Email: olgadena@iadb.org