IHH Healthcare has secured a sustainability-linked loan valued at S$300 million through United Overseas Bank (UOB). This loan marks IHH's first foray into sustainability-linked financing and is the inaugural sustainability-linked loan for the healthcare sector from UOB. The arrangement underscores IHH's commitment to sustainable practices within its operations across its network of healthcare facilities.
The loan is governed by UOB’s Sustainability-Linked Financing Framework, which offers clients structured performance criteria and sustainability targets.
IHH operates over 140 healthcare facilities, including more than 80 hospitals in 10 countries, and is dedicated to environmental responsibility. The group aims to cap carbon growth by 2025, improve waste management, and achieve net-zero emissions by 2050. IHH's inclusion in the FTSE4Good Index indicates its dedication to environmental, social, and governance (ESG) principles.
IHH Group CFO Dilip Kadambi stated, “We see sustainability as an opportunity to create lasting impact. As a multinational healthcare player touching millions of lives each year, we are proud to advance sustainable financing through this loan. We thank UOB for partnering us as we further integrate ESG considerations across our business, enhancing patient care and outcomes while driving greater value for all.”
UOB emphasizes its role in supporting regional businesses in their sustainability efforts, facilitated by the Bank's Sustainability-Linked Financing Framework, designed to integrate sustainability goals into business strategies.
UOB's Managing Director of Group Corporate Banking, Ang Moh Chuan, commented, “This partnership with IHH Healthcare exemplifies how sustainable finance can drive meaningful change. UOB is committed to working with businesses across the region to accelerate their transition towards a low-carbon economy. As a leading regional bank with deep ASEAN connectivity, we go beyond providing innovative financing solutions and act as a strategic partner to our clients, helping them achieve their sustainability ambitions and long-term business growth.”
As of the end of 2024, UOB has provided S$16.6 billion in sustainability-linked loans across multiple sectors including real estate, construction, and industrials and has been recognized by Global Finance as the Best Bank for Sustainable Finance in Singapore.