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Manila Bulletin devider Business devider DBP lends P500 M to Cavite hospital

DBP lends P500 M to Cavite hospital

Published Nov 11, 2022 12:34 pm

The Development Bank of the Philippines (DBP) loaned P500 million to a Cavite-based healthcare institution to build a hospital to serve the municipality of Alfonso and nearby towns.

The credit assistance to Ridgeview Hospital and Medical Center, Inc. (RHMCI) comes under the bank's Strategic Healthcare Investments for Enhanced Lending & Development (SHIELD) program and will finance the building of the first level 2 hospital in Alfonso, Cavite.

“DBP’s credit support to RHMCI affirms the Bank’s role as a catalyst for a more competitive healthcare sector in the country,” says DBP President and Chief Executive Officer Emmanuel G. Herbosa.

RHMCI is a start-up private corporation owned by practicing medical professionals and business experts in Cavite.

Its new facility, to be located in the Metro Tagaytay area, will be accessible to 500,000 residents of the district and nearby municipalities such as Emilio Aguinaldo, Magallanes, Maragondon, Mendez, Naic, Ternate, Amadeo, Indang, Trece Martires, Silang, Tagaytay, and Nasugbu, Batangas.

The bulk of the loan proceeds, P395-million, will partially finance the construction of a five- storey, level 2 hospital while the remaining P105-million will cover the acquisition of medical equipment and machineries.

The project will boost the capacity of healthcare in Cavite by increasing the bed-to- population ratio in the eighth district to 1:1,679 from the present 1:2,231.

“This initiative is in line with DBP’s commitment to strengthen the healthcare sector amidst the challenges resulting from the pandemic,” Herbosa noted.

As of August 31, 2022, the bank has approved a total of P37.5-billion in loans to 143 projects under the DBP SHIELD Program, according to DBP Executive Vice President for Development Lending Paul D. Lazaro.

The SHIELD Program extends financing to healthcare enterprises to ensure a more responsive and accessible healthcare system.

Already, the loan facility has helped partner healthcare institutions to increase nationwide bed capacity by more than 8,300 beds, he pointed out.

“DBP’s SHIELD directly supports the Philippine Development Plan and the United Nations Sustainable Development Goal No. 3 – Good Health and Well-being," Lazaro reiterated.

The objective is universal health coverage, including financial risk protection, access to quality essential health-care services as well as safe, effective, quality and affordable essential medicines and vaccines for all.

Related Tags

dbp dbp president emmanuel herbosa HOSPITAL LOANS DBP SHIELD PROGRAM
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