Healthcare delivery in Africa is to benefit from a $10.6 million public-private financing initiative from the Medical Credit Fund (MCF).
The MCF financing has been sourced from the US Government and a group of leading international foundations this week—the US Overseas Private Investment Corporation (OPIC), the Calvert Foundation, the Bill & Melinda Gates Foundation, the Soros Economic Development Fund, the Deutsche Bank Americas Foundation and Dutch private investors, as well as grant funding from the US Agency for International Development (USAID).
If successful in its initial implementation in Kenya, Ghana, Nigeria and Tanzania, the MCF will expand into additional countries in sub-Saharan Africa, on the strength of evidence that the private sector is already transforming the continent's health care systems.
Since the start of the program in late 2010, the MCF has disbursed more than $1.4 million in small loans in Kenya, Tanzania, Ghana and Nigeria.
The MCF is an initiative of PharmAccess, a Dutch not-for-profit organization, dedicated to improving health care in Africa through innovative approaches.