DBP lends P1.3 billion for Calabarzon heart, brain center

MANILA, Philippines — State-run Development Bank of the Philippines (DBP) is extending a P1.27-billion financing to boost specialized health services in
CALABARZON.

DBP is providing funding support to Global East Medical Center Lipa Inc. (GEAMC) in Batangas to enhance its delivery of basic and specialized health services in the whole region.

The loan will be used for the construction of the first and only heart and brain center in CALABARZON.

Under the agreement, P1.14 billion will be utilized to partially finance the construction of a seven-story Level 2 hospital, while the remaining P150 million will cover the acquisition of medical equipment and machineries.

It is under DBP’s Strategic Healthcare Investments for Enhanced Lending and  Development (SHIELD) program.

DBP president and CEO Emmanuel Herbosa said the credit assistance to GEAMC is part of its goal to give financial support to private healthcare providers for the improvement of the delivery of healthcare services to Filipinos, especially those living in the provinces.

GEAMC is a private corporation owned and operated by practicing medical practitioners and business experts in Lipa City.

The new facility is expected to bolster the capacity of the region to cater to the growing demand for medical services, which currently stands at 219,235 in-patient bed days and 150,621 outpatient visits.

The hospital’s expansion will benefit patients with cardiovascular and cerebrovascular diseases being managed invasively or surgically.

Herbosa said the project would help decongest Metro Manila-based specialty hospitals while improving the bed capacity in the province from 3,088 to 3,296.

As of end-May, DBP has approved 133 accounts under the SHIELD program for a total of P35 billion, with 20 of the projects located in Southern Luzon with aggregate funding of P6.5 billion.