The Development Bank of the Philippines (DBP) loaned P715 million to a private hospital chain to build a new medical facility in the municipality of Pilar in Bataan province.
The state-owned bank granted the loan to Allied Care Experts (ACE) Group for the ongoing construction of their start-up Level Two hospital, Mt. Samat Medical Center (MSMC).
The four-storey hospital would add 107 beds and improve the current hospital bed-to-population ratio of Bataan province from 1:825 to 1:747 which meets the Department of Health’s standard ratio of 1:1,000.
ACE-MSMC will be the first hospital in Pilar and the largest along the Bataan Provincial Highway.
It is the 35th hospital of the ACE Group and is expected to provide both outpatient and in-patient Level 2 health care services to the residents of Bataan province and nearby cities and municipalities.
“DBP has been supporting the infrastructure build-up requirements of both private and public health care institutions to advance accessible, affordable and quality health care for all Filipinos, especially the underserved,” according to DBP President and Chief Executive Officer Emmanuel G. Herbosa.
The credit assistance to ACE-MSMC was granted under the DBP Strategic Healthcare Investment for Enhanced Lending (DBP SHIELD) program, noted DBP Senior Vice President and Head of the North and Central Luzon Lending Group Catherine T. Camarao.
DBP SHIELD provides financing assistance for investments in the health care sector to strengthen the country’s overall health care system and universal health coverage.
“As we move towards recovery from the pandemic, DBP will continue to invest in strategic and sustainable projects that can help bridge the gaps in the health care sector and improve health outcomes, especially in the countryside,” Herbosa pledged.
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.