Guyana gets US$97M IDB loan to Strengthen Health Services

Dec 10, 2022 News

Kaieteur News – The Inter-American Development Bank (IDB) has approved a US$97M loan to strengthen Guyana’s health care network – through expanding the capacity of seven hospitals across the country.

The loan is the first operation under a conditional credit line for investment projects (CCLIP).

The IDB in a press release Friday said that the programme will expand the capacity of seven hospitals (four hinterland hospitals in Regions 1, 7, 8 and 9, the Linden, New Amsterdam and Georgetown Public Hospitals) and extend the coverage of diagnostic exams and medical consultations.

“It will also increase the efficiency of the public health system by supporting improvements in logistics, management, and processes. Infrastructure upgrades include more efficient use of water and energy as well as accessibility provisions for disabled persons,” the release said.

The overall objective of the CCLIP, which will include multiple loans, is to improve access, quality, and efficiency of health services in the country.

The Bank said that the project is expected to benefit around 406,000 persons, representing more than half of the country’s population. In addition, the telehealth activities, which will be installed in over 15 health facilities, will reach all ten of the country’s regions, including the hinterlands.

Further, the Bank said that as part of the investment project activities, the CCLIP will also finance Guyana’s plans for a digital transformation in health, including the expansion of the teleradiology and teleophthalmology networks.

“Finally, it will strengthen supply chain management, improve the provision of maternal and child health, and contribute to pandemic and emergency preparedness, among other activities,” the Bank said noting that the programme includes a gender and diversity assessment to identify and address health disparities by gender, ethnicity, and disability status.

Additionally, it said it contributes to climate change mitigation and adaptation by financing health infrastructure that is environmentally sustainable and resilient to climate change.

The IDB loan has an amortization period of 25 years, a grace period of 5.5 years, and an interest rate based on Secured Overnight Financing Rate (SOFR).