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Benue Assembly grants Ortom’s request to obtain N2.5bn loan for healthcare

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Benue House of Assembly has approved Gov. Samuel Ortom’s request to obtain a Central Bank of Nigeria (CBN) loan facility of N2.5 billion for healthcare delivery upgrade in the state.

The approval followed a correspondence sent to the house by the governor and read during plenary on Thursday.

In the letter, Ortom informed the house that the CBN had introduced a health sector intervention fund to finance the building and expansion of healthcare facilities and acquisition of medical equipment across all states of Nigeria.

He pointed out that the global healthcare system had been overstretched by the outbreak of the COVID-19 pandemic with the developed countries struggling to cope with the magnitude of the crisis.

The governor stated that the healthcare system in the state needed to be repositioned for a post COVID-19 delivery system that could effectively handle cases of infectious diseases across the state.

He informed the house that Access Bank PLC, as a participating money deposit bank, had submitted an offer for a facility of N2.5 billion at five per cent interest rate.

The governor further said the loan was with a 12 months moratorium and thereafter at nine per cent interest rate and 0.5 per cent management fee.

“The facility is offered at concessionary rate with a maximum tenure of 10 years,” Ortom added.

He urged the house to grant his request to access the N2.5 billion loan, saying that the CBN intervention fund was in the public interest.

The governor said its purpose was consistent with his administration’s vision for a healthcare delivery system that completely met the needs of Benue people.


Edited By: Chioma Ugboma/Ejike Obeta (NAN)

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