x

COVID-19: CBN releases guidelines for operations of N100bn credit support for healthcare

The Central Bank of Nigeria (CBN) has released guidelines for operations of N100 billion credit support for the healthcare sector following the outbreak of COVID-19 in the country.

In a circular signed by Mr Kevin Amugo, Director Financial Policy Regulation Department on Wednesday, the apex bank indicated that indigenous pharmaceutical companies and healthcare practitioners that wanted to expand or build their capacities would benefit from the scheme.

CBN had earlier announced the N100 billion intervention for the healthcare industry to strengthen the sector’s capacity to meet potential increase in demand for healthcare and services.

In the guideline, the apex bank noted that the scheme would provide credit to indigenous pharmaceutical companies and other healthcare value chain players intending to build or expand their businesses.

The CBN said the scheme was also expected to increase private and public investment in the healthcare sector, facilitates improvement in healthcare delivery and reduce medical tourism to enhance foreign exchange conservation.

The bank further explained that the objective of the scheme was to provide long-term low cost finance for healthcare development that would lead to the evolvement of world-class healthcare facilities in the country.

According to the bank, the scheme will improve access to affordable credit by indigenous pharmaceutical companies to expand their operations and comply with the World Health Organisation’s good manufacturing practices.

The CBN noted that the eligible participants under the scheme were healthcare products manufacturers and pharmaceutical equipment.

It added that others are healthcare service providers, medical facilities, pharmaceutical and medical products distribution and logistics services among others.

The CBN said the Deposit Money Banks and Development Finance Institutions were eligible to disburse the fund. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

A’Ibom Lawmaker wants Naval Base in Oku Iboku as C/River assailants kill two

By Ogenyi Ogenyi,UyoIn the wake of renewed violence and...

Police Arrest 239 Suspects, Recover Weapons in Kogi

By Noah Ocheni, LokojaNo fewer than  239 criminal suspects...

Tinubu’s Aide Launches JusticeTechNG 2025 to Spur Legal Sector Innovation

President Bola Tinubu’s Special Assistant on Justice Sector Reform...

Davido: Critics Target Me Because of My Wealthy Background

Afrobeats superstar David Adeleke, popularly known as Davido, has...

ASUU Threatens Legal Action Against JAMB Over 2025 UTME Mass Failure

The Academic Staff Union of Universities (ASUU), University of...

Lagos Plans Monthly Rent Payment System to Ease Financial Burden

The Lagos State Government has announced plans to introduce...

BREAKING: JAMB Admits to Errors in 2025 UTME Affecting Student Performance

The Joint Admissions and Matriculation Board (JAMB) has officially...

Tinubu, Ganduje Strategize Apc’s Bright Future Ahead of 2027

By: Dr Sagir S Buhari FCIAAs Sun Tzu once...
spot_img

Related Articles

Popular Categories

spot_imgspot_img