Deutsche Bank Spain’s Structured Trade & Export Finance group, part of the Corporate Bank, has arranged financing for the construction of the Dr. Felipe Lucini maternity hospital in Córdoba, the capital of city of Córdoba Province, Argentina.
The loan, which will also finance the purchase of medical equipment for 12 provincial hospitals, was signed with the Province of Córdoba and is guaranteed by the Argentine Republic through the Ministry of Finance.
The fixed rate, long-term loan will finance 100 percent of the project, which will be managed by Eductrade, a Spanish company specialising in international projects in the health and education sectors.
The loan is backed by the Spanish Export Credit Insurance Company (CESCE), which acted as agent for the Spanish Government. The Government, through CESCE, offers support programmes for the internationalisation of Spanish companies through credit insurance coverage to financial institutions, as well as the possibility of setting long-term interest rates, which improves the competitiveness of technical, economic and financial offers of Spanish companies.
The new maternity hospital will be situated in the southeast area of theYew Cordoba city, serving an area with a population of more than 600,000. It is named for Raúl Felipe Lucini, a local doctor and jazz pianist who served as the 50th Governor of Córdoba.
Signature of the deal at the Deutsche Bank headquarters in Madrid.