Cameroon Cataract Bond: Celebrating a Successful First Year
The Cameroon Cataract Bond is a development impact bond (DIB) that funds health care services at the Magrabi ICO Cameroon Eye Institute (MICEI). Specifically, this $2 million loan aims to support as many as 18,000 high-quality cataract surgeries and enable hospital self-sufficiency over the next five years. We are proud to partner with The Fred Hollows Foundation, Sightsavers, the African Eye Foundation and Volta Capital on this venture.
Initially launched in March 2018 with investments made by The Overseas Private Investment Corporation and the Netri Foundation, the project now celebrates a successful first year that included screening 54,000 individuals, with another 2,300 patients receiving vision-restoring cataract surgery. This DIB specifically supports systemic change and increased service delivery in Cameroon, since avoidable blindness is estimated to double in this region by 2020 if significant investments into ophthalmological capacity are not implemented.
“We are encouraged by the progress made so far toward the goal of building greater eye care capacity for Cameroon and for the region,” shares our President and CEO Peter Laugharn. “We look forward to the continued partnership represented by this innovative financing mechanism to help support the sustainability of MICEI’s operations.”