SBP enhances financing limit for hospitals
Raises it to Rs500m under its Refinance Facility for Combating Covid-19
PHOTO: FILE
KARACHI:
Owing to the rising coronavirus cases and the need to strengthen health sector to combat Covid-19, the State Bank of Pakistan (SBP) has enhanced financing limit of a single hospital/medical centre under its Refinance Facility for Combating Covid-19 (RFCC) from Rs200 million to Rs500 million.
The announcement was made in a press release issued on Friday. "RFCC is an emergency funding facility to support hospitals/medical centres to develop their capacities for treatment of infected patients of Covid-19," it read. "The financing under this facility is being made available by the state bank at 0% to banks that can charge a maximum rate of 3% per annum to hospitals/medical centres."
According to the release, SBP has been continuously improving features of this facility to ensure timely financial support to hospitals/medical centres engaged in combating Covid-19.
So far, financing of Rs2.2 billion for 11 hospitals/medical centres has been approved whereas financing requests of Rs3.6 billion for 23 hospitals/medical centres are under process by the banks. "Following enhancement of financing limit, it is expected that large scale facilities will be created for treating Covid-19 patients by using subsidised funding being extended under this facility," the statement added.
Published in The Express Tribune, May 2nd, 2020.
Owing to the rising coronavirus cases and the need to strengthen health sector to combat Covid-19, the State Bank of Pakistan (SBP) has enhanced financing limit of a single hospital/medical centre under its Refinance Facility for Combating Covid-19 (RFCC) from Rs200 million to Rs500 million.
The announcement was made in a press release issued on Friday. "RFCC is an emergency funding facility to support hospitals/medical centres to develop their capacities for treatment of infected patients of Covid-19," it read. "The financing under this facility is being made available by the state bank at 0% to banks that can charge a maximum rate of 3% per annum to hospitals/medical centres."
According to the release, SBP has been continuously improving features of this facility to ensure timely financial support to hospitals/medical centres engaged in combating Covid-19.
So far, financing of Rs2.2 billion for 11 hospitals/medical centres has been approved whereas financing requests of Rs3.6 billion for 23 hospitals/medical centres are under process by the banks. "Following enhancement of financing limit, it is expected that large scale facilities will be created for treating Covid-19 patients by using subsidised funding being extended under this facility," the statement added.
Published in The Express Tribune, May 2nd, 2020.