The Development Bank of the Philippines (DBP) extended a P1.6-billion loan to Luzon Alliance Medical Center, Inc. (LAMCI) for building an eight-storey hospital, one of the largest in Guiguinto, Bulacan.
The new LAMCI facility provides an additional 200 beds plus a cancer treatment facility to serve the needs of Central Luzon patients.
“DBP provides sustainable financing to providers of quality health care services to low-income groups in underserved communities,” remarked President and Chief Executive Officer Emmanuel G. Herbosa.
“This will likewise enable the health sector to remain competitive amidst the backdrop of uncertainty in public health brought about by the pandemic,’’ he added.
The LAMCI loan falls under the DBP Strategic Healthcare Investment for Enhanced Lending (DBP SHIELD) program.
As of year end, DBP has released a total of P12.95-billion in loans under DBP SHIELD, enabling both public and private hospitals to modernize their services.
The DBP SHIELD program aims to strengthen the country’s overall health care system and universal health coverage.
It provides financial assistance to all hospital levels and other health facilities such as laboratories, diagnostic centers, clinics, and primary care providers.
“DBP is committed to provide financial support to the Philippine health sector for a more healthy and resilient Philippines,” Herbosa stressed.
DBP is the fifth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.