Stanbic bank contributes N10bn to boost health sector

Stanbic IBTC Bank Plc said its has contributed over N10.2 billion to boost the growth of the sector in Nigeria.

The financial organisation affirmed that to further In fulfil its corporate social investment initiative pillars in education, economic empowerment and Healthcare, it will continue to partner with stakeholders in the health sector to further strengthen the system and give Nigerians access to quality and affordable healthcare.

Chief Executive Stanbic IBTC Bank, Wole Adeniyi, pointed out that it has also taken part in various strategic partnerships with healthcare providers in the country.

He disclosed that out of the N10.2 billion, the Bank provided a N6.7 billion loan facility for the building of BAZE University Private Teaching Hospital in Abuja in 2021, and created a N2 billion special fund for health care providers to buy equipment and improve health care delivery.

The Chief Executive noted that the bank recently partnered with ISN Medical to offer interest-free loans of up to N1.5 billion to clinics, medical laboratories, diagnostic centres, and other healthcare providers for the procurement of medical diagnostic and healthcare products.

According to Adeniyi, Stanbic IBTC Bank had contributed immensely to growing the Nigerian healthcare sector in several ways, including through the CBN Healthcare Sector Loan, which made available flexible loan facilities to stakeholders.