Nigeria’s private healthcare providers can get $800,000 loan to boost equipment financing
In strengthening financial and other relationships with the private sector and addressing fragmentation of financing arrangements for different types of services. Access Bank and GE Healthcare are to provide sustainable healthcare equipment financing to private healthcare providers, under the partnership, borrowers will be able to secure loans of up to $800,000 negotiable, based on the customer requirement.
GE Healthcare and Access bank scheme is therefore born out of the necessity to provide the needed support to the Nigerian Healthcare environs, by providing healthcare finance at affordable rates and longer tenor.
The partnership will help the private healthcare providers to deliver access to affordable healthcare services. However, Access Bank will provide access to loans for eligible healthcare providers,
while GE Healthcare will support the program through provision of GE healthcare equipment and technical support.
The equipment under the partnership scope includes Imaging Solutions including Magnetic Resonance Imaging (MRI) and Computed Tomography ( CT), Ultrasound Machines and Life Care Solutions. Borrowers which qualify for loans include private healthcare providers such as hospitals, clinics, diagnostic centres and other private practices offering a broad array of services.
“We are committed to invest in Public and Private Partnerships that innovate new delivery models that will improve access to affordable and quality patient outcomes, as we progress towards Universal Healthcare Coverage (UHC) in Nigeria. Our partnership with Access Bank will help lift the financial burden off the healthcare providers,” said Eyong Ebai, general manager for GE Healthcare West, Central and French Sub-saharan Africa, at the signing ceremony in Lagos.
The need to provide affordable healthcare in Nigeria is key to the development of the Nigerian Healthcare sector. Yet as the World Health Organisation has identified UHC as a unifying concept and goal for the Government as they strengthen their health systems and discharge their obligations under the right to health.
Herbert Wigwe, chief executive officer (CEO) Access Bank said that there is a need to provide innovative financing models for healthcare providers especially in the private sector, who currently face challenges accessing financing for purchase of healthcare equipment due to the risk associated with the business.
“As a financing institution, we are committed to provide financing at both the health-service-provider level and at health-service-consumer levels to ensure that the people of Nigeria have all they need to live healthy lives,” he added.