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March 01, 2024

DBP extends P1.6B loan to complete largest hospital in Guiguinto, Bulacan

Government-run Development Bank of the Philippines led by bankero Emmanuel Herbosa has extended a P1.6-billion financing assistance to Luzon Alliance Medical Center Inc. (LAMCI) for the construction of the largest hospital in Guiguinto, Bulacan.

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 medical equipment.

The proposed hospital would provide an additional 200 beds and a cancer treatment facility for the community.

DBP continues to help the health sector to remain competitive amidst the backdrop of uncertainty in public health brought about by the COVID-19 pandemic.

“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.

The country’s fifth largest bank provides credit support to four strategic sectors of the economy – infrastructure and logistics, micro, small and medium enterprises (MSMEs), the environment as well as 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.

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