Tuesday, 25th Sept. 2018. Republic Bank Ghana, a subsidiary of Republic Financial Holdings limited, has launched a new loan product, Republic Medical Loan, specifically to provide Private Health Care Providers with working capital and other bridge financing options.
The objective of the loan product is to improve the health service delivery of the nation by empowering the private health service providers with financial resources to improve and expand their businesses. The product launch was held at the Accra City Hotel on Tuesday, 25th September, 2018.
Speaking at the launch of the product, The Managing Director of Republic Bank Ghana, Mr. Anthony Jordan expressed his concerns about the state of Health delivery in Ghana and the need for financial Iinstitutions to support Government’s efforts to improve the sector. “Each day, in the media, we hear of the myriad of challenges faced by the health sector, from ‘No bed syndrome’ , lack of equipments, medical employees on strike and the others. The bottom-line is that precious lives are being lost, illness are unnecessarily prolonged. While the Government continues to do its best to salvage the situation within the health sector, it is also important that the private healthcare providers are given the needed support in order to operate at their optimal levels” the Managing Director added.
According to Mr. Jordan, the Private HealthCare providers can now access from Republic Bank a loan facility at a very affordable rate even as high as GH10 million to expand their health businesses. He therefore urged Private HealthCare Providers namely; private hospitals and laboratories, pharmaceutical companies, etc to take advantage of this loan product to expand their businesses and acquire modern technologies to improve health delivery in Ghana. “You will all agree with me that a well resourced healthcare inspire confidence and saves many” he added.
The Republic Medical loan is financed with funding from the Medical Credit Fund (MCF), a global fund that seeks to increase access to better healthcare services in sub-Saharan Africa for low income patients. The loan facility can be assessed by any private healthcare provider in Ghana at any Republic Bank branch nationwide.
Present at the launch were the Managing Director of Medical Credit Fund, Mr. Arjan Poels, the Netherlands Ambassador, H.E. Ron Strikker, Representatives of Ghana Medical Association, Pharmaceutical Society of Ghana, Health Facilities Regulatory Agency, Ghana Registered Midwives Association, Biomedical Scientist Association and others were also well represented.