Development Bank of the Philippines (DBP) will infuse P1.125 billion in credit assistance for the construction of an eight-storey hospital building in Angeles City.
Officials of DBP and Marquee Doctors Medical Center, Inc. signed the loan agreement which also covers procurement of hospital machinery and equipment.
President and CEO Emmanuel Herbosa said that as the country’s premiere infrastructure bank, DBP has been extending essential financing to both private and public healthcare enterprises to ensure their sustained and viable operations as they endeavor to provide better medical services to the people.
Once completed, the hospital is seen to boost the availability of quality and affordable healthcare services, as it envisions to be a 200-bed Level 2 hospital that is expected to serve the medical requirements of about 411,000 residents of Angeles City and nearby towns.
DBP’s credit aid to MDMCI, which was approved by its Board of Directors in October 2021, was granted under the bank’s flagship program for the health sector called the Strategic Healthcare Investment for Enhanced Lending and Development (SHIELD) Program.
DBP Senior Vice President for Development Lending Paul Lazaro said they will continue to be a more focused catalyst towards an improved healthcare system in the country that is more responsive, accessible and affordable especially to Filipinos in underserved and remote areas.
“As of end-December 2021, more than P31 billion has already been approved for 126 accounts under DBP SHIELD. This provides focused financing for investments in the healthcare sector to strengthen the country’s overall healthcare system and universal health coverage,” he said. (PIA 3)
