DBP lends P500M for pioneering hospital in Cavite town
STATE-owned Development Bank of the Philippines (DBP) has granted P500 million in funding support to a Cavite-based health care institution for the construction of a hospital facility to meet growing demand for health care services in Cavite and nearby towns, a top official said.
DBP President and Chief Executive Officer Emmanuel Herbosa said the credit assistance to Ridgeview Hospital and Medical Center Inc. (RHMCI), under the bank’s Strategic Health-care Investments for Enhanced Lending and Development (Shield) program would be used to finance the construction for the first level 2 hospital in Alfonso, Cavite.
“DBP’s credit support to RHMCI affirms the bank’s unique role as a catalyst for a more competitive health care sector in the country,” Herbosa said. “The bank is ready to bridge the gap in quality medical facilities in the fledgling town of Alfonso.”
DBP has been the eighth largest bank in the country in terms of assets, providing credit support to four strategic sectors of the economy: infrastructure and logistics; micro, small and medium enterprises; environment; and social services and community development.
RHMCI, a startup private corporation, has been owned by practicing medical professionals and business experts in Cavite. The new facility would be strategically located in the Metro Tagaytay area and would be accessible to nearly 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.
Herbosa said under the agreement, P395 million will be utilized to partially finance the construction of a five- story, level 2 hospital.