Ashurst advises Deutsche Bank on major development financing for critical health infrastructure in Côte d'Ivoire
14 May 2020
Global law firm Ashurst has advised global investment bank Deutsche Bank on the €142 million development financing of a portfolio of priority hospital projects in the Republic of Côte d'Ivoire. The financing is supported by the Islamic Corporation for the Insurance of Investment and Export Credit, a subsidiary of the Islamic Development Bank.
The project involves the construction of two new regional hospitals in Côte d'Ivoire, as well as five new medical units in five additional hospitals, each using state-of-the-art equipment. This landmark project addresses an important development objective for Côte d'Ivoire and, with completion of the new hospitals expected in October 2020, will support the country’s current efforts to contain the Covid-19 pandemic.
The Ashurst team, led by Paris partner Tom Longmuir, involved over 20 lawyers throughout the firm's global network and included London capital markets partner Kerion Ball, insurance partner Rehana Box and Saudi partner Bilal Rana.
Commenting, Tom Longmuir said:
"We are delighted to have assisted Deutsche Bank on such an innovative and important development financing for the country, which achieved financial close during the Covid-19 outbreak. This is a major deployment of our new financing capabilities in francophone Africa, as well as our market-leading expertise in multilateral credit support."
