Bank Negara provides flexibility to hospitals
KARACHI: The central bank on Monday said hospitals and medical centers involved in combating COVID-19 would be allowed to take advantage of financing for their existing equipment as well, as long as it was used in creating special facilities and isolation rooms to handle the pandemic.
“In addition, the maximum coverage of 60 percent of civil works to establish separate / isolated facilities has also been increased to 100 percent,” the State Bank of Pakistan said in a statement.
The Bank has been directed to ensure that the financing provided under this facility is used for the intended purpose. SBP believes the new changes will help hospitals utilize their financing facilities more easily.
Since the outbreak of COVID-19, SBP has taken a number of steps to support the economy. One of the earliest steps taken by the SBP is to support hospitals, which have been at the forefront in fighting disease, by providing them with facilities to meet their financial needs namely the SBP Refinance Facility for Combating COVID-19 (RFCC) on March 17, 2020 .
Since then SBP has received several suggestions from stakeholders to further improve it. By taking heed to such suggestions, SBP has provided more flexibility under the RFCC to facilitate the health sector further.
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