Diamond Bank Plc has signed a partnership with Netherlands-based Medical Credit Fund to provide affordable loans to private primary healthcare providers to improve the quality of their services. Loan provision involving this partnership comes at affordable terms and can be combined with a comprehensive technical advisory package which allows the healthcare providers to improve the clinical quality of their services while strengthening their business models
Lower and mid-tier healthcare suppliers are also targeted for this partnership known as ‘Health SMEs’. Technical advisory services for medical quality and business improvement can be made available by the MCF and its technical partners.
The executive director, Retail Banking, Diamond Bank Plc, Uzoma Dozie said that the valuable addition to the bank’s product range grants tremendous potential for those at the lower and middle end of the healthcare market. She disclosed that with access to capital clinics will allow them upgrade their quality as well as their business models, leading to overall improvement of healthcare delivery in the sector and by extension better healthcare delivery for Nigerians.
Herman Abels, Director, Operations at Medical Credit Fund revealed that Both Medical Credit Fund and Diamond Bank plan to bridge the finance gap for healthcare providers and ultimately expand its activities across the country.
This medical credit fund is the first social financing fund that introduces a new approach in sustainable improvement of private health care in Africa. It aims to reduce the unknown risks of investing in primary health care, leading to increased transparency and trust so that the lower end of the health market becomes finance-able and scalable.
The fund facilitates access to loans to private primary health care providers that serve low-income groups through local financial institutions. This finance program is combined with internationally certified clinical (SafeCare) and business technical advisory services. Loans and advisory services are used to improve the quality of the health clinics, which will lead to expanded and improved health care services for more people.