Morocco and Egypt to Receive USD 125 Million Shariah-Compliant Financing Facility

A syndicate of four banks, namely International Finance Corporation, the European Bank of Reconstruction and Development, the Finnish Fund for Industrial Cooperation, and OPEC Fund for International Development will provide USD 125 million to revive healthcare services in Morocco and Egypt.

For some of the above-mentioned financiers, this facility marks the first time Islamic finance is being provided to customers.

The funds will be used to finance the development of internationally certified greenfield general hospitals in Egypt and Morocco, with the aim of improving the quality of health-care service provision across these countries.

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