Humania Equity



Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

10 Jun 2020



PSD disclosed:

06 May 2020

Project Description

Investment of up to USD 25 million in favour of Humania North Africa Holding (the "company"), a limited liability company incorporated in Dubai International Financial Centre (DIFC), the United Arab Emirates.

Project Objectives

Bait Al Batterjee Medical Company Limited (the "Sponsor" or "BAB") is building a healthcare platform ("Humania") focused on hospitals and clinics in North Africa. The EBRD, together with the IFC (International Finance Cooperation), Asset Management Company (AMC), Proparco, and International Fund for Developing Countries (IFU), will invest in Humania.

Transition Impact

The transition impact of the proposed project will be derived from:

  • Competitive: The project will lead to an improved quality of services (beyond the current local standards) and seek a reputable internationally recognised certification for each of the hospitals (Joint Commission International "JCI"). The company also plans to establish new degree-level nursing training programmes in order to address skills mismatch and labour shortages in Egypt and Morocco;
  • Green: The project will be developed at standards beyond prevailing market norms in the healthcare sector in the region in terms of energy, water and construction material efficiency (as both hospitals will be certified under the EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification.

Client Information


Humania North Africa Holding Company (the "Investee Company")

Humania is a holding company established by the Sponsor, with the purpose of building and operating general hospitals in Egypt and Morocco (the "project").

Bait Al Batterjee Medical Company Limited (the "Sponsor" or "BAB")

The Sponsor is one of the largest healthcare providers in the Gulf Cooperation Council (GCC) countries operating under the brand name "Saudi German Hospital ("SGH"). BAB operates over 2,500 hospital beds and employs over 12,000 people.

EBRD Finance Summary

USD 25,000,000.00

Up to USD 25,000,000

Total Project Cost

USD 360,000,000.00

USD 360,000,000


There is a lack of adequate equity market in the region and thus the participation of IFIs plays a key role in supporting the project.

Environmental and Social Summary

Categorised B under the 2019 ESP and Low to Medium risk.  ESDD for the preceding project (in relation to the two greenfield hospitals, "Alex West" & "Zenata" and the existing "SGH" ) in 2019 is applicable for this equity project.  Additional ESDD has been carried out by ESD through review of a completed ESDD Questionnaire on the construction of a green field medical tower ("MT") in Cairo as well as follow up communication with the Client.  The site adjunct to SGH is not associated with resettlement & economic displacement, cultural heritage or biodiversity issues. Additional ESDD confirms that the client will apply the same environmental and social risk management procedures judged satisfactory against EBRD PR in the preceding project context to the proposed works. The ESAP has been modified to reflect the equity investment nature of the new project.  For the project, the Client is required to comply with EBRD PRs for their all operations as well as continue to submit an annual environmental & social report to the Bank. 

The Client is an existing client of IFC, and IFC has previously undertaken comprehensive Environmental and Social Due Diligence (ESDD) on the Client. The Bank's preceding ESDD, carried out by ESD, was based on the review of the project's Data Room, IFC's ESDD and Environmental & Social Action Plan (ESAP) as well as a site visit to Alexandria site and discussion with the Client management.  The Client, as a Group, has adequate E&S risk management capacities. Formal procedures covering environment, infection control, HR, occupational health & safety (OHS) and life & fire safety from the existing hospital in Cairo are in compliance with national law and in line with EBRD ESP. The Groups' hospital construction arm, IHCC, is certified with ISO9001:2015, ISO14001:2015 and ISO45001: 2018 and IHCC's environmental, construction labour, health & safety and chance finds procedures are being applied for the MT in Cairo, new hospital construction in Alexandria and in Zenata Eco-city in Morocco.  The Client's existing SGH is accredited with JCI, an international hospital management accreditation.

Technical Cooperation and Grant Financing


Company Contact Information

Aamir Rehan/ Ahmed El Bakry

PSD last updated

11 May 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


Share this page: