Sterling Bank, Cross River, consortium sign MoU on health supply project



Sterling Bank Plc has signed a Memorandum of Understanding (MoU) with the Cross River State Government and a consortium of healthcare providers to provide services for the Cross River Health Supply Chain Transformation Project.

Speaking at the signing ceremony in Lagos, Divisional Head, Health and Education Sectors with Sterling Bank, Mr. Obinna Ukachukwu,

said, “I am excited that this is happening. It is the beginning of good things to come and I hope other states in the country would replicate the strategy that has been put in place by the Cross River State Government to address the challenges in its health supply chain.”

He said “Sterling Bank would de-risk any sector of the Nigerian economy that is willing to adopt a similar strategy through re-imagining finance. This is about putting in place the structure to render service before introducing formal banking transactions in a bid to ensure a win-win situation for the parties involved in the arrangement.”

The MoU is sequel to the bank’s partnership with the Cross River State Government on the implementation of a Health Insurance Scheme tagged: Ayade Care. The scheme according to the bank was launched recently in Calabar, the state capital, as part of an effort to achieve health insurance cover for vulnerable citizens in Cross River.

Ukachukwu explained that health is one of the five sectors where Sterling Bank is concentrating investments under its HEART’s of Sterling programme in a bid to make impact in the Nigerian economy. The other sectors are Education, Agriculture, Renewable Energy and Transportation.

Also speaking, the Commissioner for Health, Cross River State, Dr. Betta Edu expressed happiness at state’s readiness to finally implement the Health Supply Chain Transformation Project. She explained that the state’s healthcare policy revolves around providing quality healthcare services through universal health coverage, adding that there is absolutely no way the state could achieve its objective without functional pharmaceutical services.