Home BUSINESS BANKING & FINANCE Polaris Bank Disburses Billions Of Naira Loan To Health Sector

Polaris Bank Disburses Billions Of Naira Loan To Health Sector

Polaris Bank has launched what it called “a one-stop-solution to the health sector” under which it disbursed, in September 2019, billions of naira to support the growth of the Nigerian health sector through tailor-made banking products for businesses.

A statement from the bank said that the drive was re-enforced by the CBN N100 billion Health sector support fund set aside by the Apex Bank to help cushion the effect of coronavirus on the nation’s economy and the health sector in particular.

The Bank’s Group Head, Products and Market Development, Adebimpe Ihekuna, was quoted in the statement to have made the comment at the recently concluded webinar, tagged: “Managing Health Care Business During and Post-COVID-19.”

Eligible participants under the scheme comprise healthcare product manufacturers – pharmaceutical drugs and medical equipment; and healthcare service providers/medical facilities – hospitals/clinics, diagnostic centres/laboratories, fitness and wellness centres, rehabilitation centres, dialysis centres and blood banks. Others include pharmaceutical/medical products distribution and logistics services; and other human healthcare service providers as may be determined by the Central Bank Of Nigeria (CBN) from time to time.

See also:  August Federation Account: Federal, States, Local Governments Share ₦682.060 Billion

Adebimpe explained that the chunk of the disbursements are under the CBN intervention funds at 5% and up to 10 years loan tenor; as well as direct disbursement from Polaris Bank at a with highly competitive terms and conditions.

She confirmed that healthcare firms/businesses in the value chain who wish to take advantage of the scheme to expand and grow their business, should submit their application at any branch of Polaris Bank or send a mail to: smebusiness@Polarisbanklimited.com to engage a Product Manager for guidance.
The statement said that applicants can visit the Polaris Bank website: www.polarisbanklimited.com for additional details on the CBN N100 billion Health sector support fund and other lines of products.

It said that the Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

Editorial staff
Editorial Staff at Greenbarge Reporters is member of a team of journalists led by Editor-in-Chief, Yusuf Ozi Usman.

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