State-owned Development Bank of the Philippines (DBP) has extended a
P1.6-billion financing assistance to Luzon Alliance Medical Center, Inc. (LAMCI) to boost the accessibility and quality of health care in the Central Luzon region, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that the loan to LAMCI was granted under the DBP Strategic Healthcare Investment for Enhanced Lending (DBP SHIELD) program and would be used to finance the construction of an eight-storey hospital building and the purchase of various medical equipment.
“DBP remains responsive to the need to provide sustainable financing to stakeholders in the public and private sector who seek to advance the delivery of quality health care services, especially to low-income groups in underserved communities,” Herbosa said. “This will likewise enable the health sector to remain competitive amidst the backdrop of uncertainty in public health brought about by the pandemic.’’
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 DBP SHIELD program is focused on providing financing assistance aimed to support investments in the health care sector to strengthen the country’s overall health care system and universal health coverage. It provides financial support to all hospital levels and other health facilities such as laboratories, diagnostic centers, clinics, and primary care providers.
Herbosa said the new LAMCI facility would provide an additional 200 beds and a cancer treatment facility and is expected to be one of the largest hospital facilities in the town of Guiguinto in Bulacan province.
He said as of end December 2021, DBP has released a total of
P12.95-billion in loans under DBP SHIELD which enabled both public and private hospitals to modernize their services and facilities to meet the increasing and diversifying demand of clients in the health care industry.
“DBP is committed to provide financial support to the Philippine health sector for its continued upliftment towards a more healthy and resilient Philippines,” Herbosa said.