State-owned Development Bank of the Philippines (DBP) has granted P715-million in funding support to a renowned private hospital chain for a new medical facility in the Municipality of Pilar, Bataan Province, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that the loan proceeds will be used to finance the ongoing construction of the Mt. Samat Medical Center (MSMC) – a start-up Level Two hospital of the Allied Care Experts (ACE) Group.
“DBP has been supporting the infrastructure build-up requirements of both private and public health care institutions in the pursuit of advancing accessible, affordable and quality health care for all Filipinos, especially the underserved,” Herbosa said.
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. The project was approved for the grant of funding support by the DBP Board of Directors in September 2021.
ACE-MSMC will be the first hospital in Pilar and the largest along the Bataan Provincial Highway. ACE-MSMC is the 30th 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 Senior Vice President and Head of the North and Central Luzon Lending Group Catherine T. Camarao said the planned four-storey hospital would add 107 beds and improve the current hospital bed-to-population ratio of the province from 1:825 to 1:747 which meets the Department of Health’s standard ratio of 1:1,000.
Camarao said the credit assistance to ACE-MSMC was granted under the DBP Strategic Healthcare Investment for Enhanced Lending (DBP SHIELD) program which 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 added.