National Microfinance Bank, Medical Credit Fund Sign Deal to Boost Health Services

Health services are set to improve after the National Microfinance Bank (NMB) and the Stichting Medical Credit Fund (MCF) inked a partnership to provide affordable loans to private health facilities of up to 2bn/-.

The Dar es Salaam Stock Exchange (DSE) listed bank with over two million customers, 175 branches and over 600 ATMs, becomes the first bank in the country to enter into that kind of partnership with MCF to support health sector through financing, broadening and strengthening the quality of healthcare provision.

The beneficiaries in the partnership are the private hospitals, dispensaries, health centres and non-public health service providers like medical suppliers and medical colleges.

The minimum capital that will be provided is 30m/-. NMB Managing Director Ms Ineke Bussemaker said in Dar es Salaam yesterday after signing the Memorandum of Understanding (MoU) that the agreement came at a right time and would contribute to increasing access to affordable basic healthcare and help build sustainable health providers.

“It is yet another milestone for NMB which is the districts to prove its closeness to everyone and everywhere,” she said. “There is big opportunity in the health sector and NMB recognise and commit itself in helping hospitals and health centres because it will contribute to increased access to affordable basic healthcare.”

She said the partnership will give healthcare providers access to finance including a special technical package for the players to identify suppliers of quality medical equipment, training for medical practitioners and service quality improvement. Since a good understanding of the health sector is needed to support the quality, sustainable players thus MCF has the wide knowledge and experience and would provide guarantees in the NMB financing.

The MCF Chief Executive Officer Ms Monique Dolfing-Vogelenzang said the MoU was crucial in realizing the funds objectives of increasing access to affordable basic health delivery.

“Access to investment capital has been a challenge and impedes the provision of affordable health delivery especially when looking on the context of building sustainable health systems,” she said.

She added: “With this MoU, we are happy that many private hospitals, health centres, dispensaries will have the capacity to invest in modern and sophisticated health apparatus to be realised through partnership with the largest bank with the widest outreach in the country.”

NMB’s largest shareholders are its strategic partners Rabobank with a 34.9 per cent share and the government with 31.9 per cent.

Originally published on DailyNews Tanzania