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UK-based Georgia Healthcare Group (GHG) has received $25m loan from the European Bank for Reconstruction and Development (EBRD) to fund working capital and operational costs associated with addressing the Covid-19 pandemic.
Founded in 2015, Georgia Healthcare runs hospitals, clinics, pharmacies, medical insurance and diagnostic laboratory.
The two-year loan agreement will enable the group to employ six of its major hospitals to cater to Covid-19 patients and boost its diagnostic capacities.
In addition, the investment is expected to bolster GHG’s capacity to help treat Covid-19 patients and further mitigate transmission of the disease.
EBRD Caucasus regional director Catarina Bjorlin Hansen said: “GHG is our longstanding client and we are delighted to strengthen its operations. Solid healthcare infrastructure is paramount at this challenging time and with this project we invest in people, in saving lives and in their futures.”
Georgia Healthcare created a significant group-wide action plan to help combat the crisis.
Apart from offering Covid-19 centres, the company plans to boost its stock levels to ensure availability of medicines and major consumables in the country, in case of a significant outbreak.
Georgia Healthcare Group CEO Nikoloz Gamkrelidze said: “The allocated funds will enable us to support the country to combat the coronavirus epidemic, maintain strong liquidity and service quality in order to properly address our patients’ and customers’ needs, and protect the well-being of our citizens.”
The group operates a total of 18 referral hospitals, 19 community clinics, 15 polyclinics and 296 pharmacies across the UK.