Deals SACE - 13 January 2023

Italian supplies and equipment in 3 new hospitals in Angola with the support of UniCredit, SACE and SIMEST

Made in Italy medical supplies and equipment, as well as staff training, are part of three hospital projects in Angola thanks to the UniCredit loan (single backer), SACE insurance coverage, and SIMEST export contribution. The project involves a loan of € 222 million disbursed by UniCredit, guaranteed by SACE, and with rate stabilization and interest subsidies from SIMEST.

It concerns three contracts entered into by Vamed Health Projects Italy in relation to three new hospitals in the regions of Cabinda, Luena and Huambo, in Angola. The company is active in design the hospital sector, for the planning, construction, supply of medical systems and equipment for turnkey hospital projects and also training of staff and commissioning and start-up of the facilities.

More than half of the companies involved will be Italian and, over the past year, SACE has organized 2 business matching initiatives with Vamed Health Projects Italy, the Italian company active in design, construction, supply of systems and medical equipment for turnkey hospital projects. These involved approximately 60 Italian businesses and facilitated 35 B2B meetings between the counterparty and producers of medical equipment, such as diagnostics, X rays, laboratory material, and mechanical, electric, and hydraulic plant engineering, but also training of staff and commissioning and start-up of the facilities to increase the order’s Italian content. The company was founded in 2017 in Florence and, together with Hospital Consulting with headquarters in Bagno di Ripoli, is part of the Vamed Group, which is active in the hospital sector mainly in Europe, Asia, Africa, the Middle East, and Latin America through branches spread across 40 countries.

Angola has an improving risk profile. In fact, its economy is forecast to start growing again significantly, starting this year already, including thanks to reforms that are consolidating the public accounts. The expected recovery and support received from the international financial institutions represent the main positive elements for the economic and financial scenario of the country, which has benefited, since the start of the year, from an upgrade by the main ratings agencies.

The International Monetary Fund has also recently confirmed its debt sustainability analysis in light of the positive outcomes from the periodic review, while the three-year program concluded positively in December 2021, with overall funds of USD 4.5 billion disbursed.

“We are very happy to participate in the projects for building three new hospitals with a view to improving the health conditions of a country like Angola, which has experienced a critical economic situation already for a number of years, though improving”, stated Daniela Cataudella, Political & Sovereign Manager of SACE. “Even more so because, working in synergy with UniCredit and SIMEST, we are at the side of Italian businesses that will participate in projects transmitting know-how and quality products - distinctive traits of Made in Italy.”

“SIMEST’s operations in support of this important loan”, states Carolina Lonetti, Chief Export Finance & Internationalization Officer of SIMEST, “confirms the consistent commitment that distinguishes us to strengthen the competitiveness of Italian businesses, in synergy with SACE and with the bank sector, in building strategic infrastructure works to improve the economic and social conditions in difficult regions like those of Angola.”

“UniCredit’s loan for these projects is fully in line with the bank’s activities in supporting Italian businesses engaged overseas”, stated Francesca Beomonte, Global Head of Structured Trade & Export Finance of UniCredit. “Considering, in addition, that the projects aim to improve the healthcare offering serving densely populated and developing geographic areas, there is full consistency with our UniCredit Unlocked plan, oriented to provide customers with suitable tools and to support investment projects with a positive social impact.”


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