The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Doctors Hospital has received a $5m loan from an Inter-American Development Bank (IDB) affiliate to support its working capital needs and meet the “evolving” demands imposed by COVID-19.

The credit extended to the BISX-listed healthcare provider by IDB Invest was revealed on the same day that the multilateral lender itself confirmed a $40m loan to strengthen the Bahamian public healthcare system in the pandemic’s wake.

As for Doctors Hospital, IDB Invest’s financing will be accompanied by efforts to “work with Doctors Hospital to update its hazardous material plan around wastewater management and provide resources to conduct a pre-feasibility study on the use of solar PV generation at its primary location”.

IDB Invest added: “COVID-19 has spread to approximately 15 Bahamian islands, most of which lack the healthcare infrastructure required to process tests or address cases requiring hospitalisation.

“IDB Invest’s loan will allow Doctors Hospital to provide an extension of COVID-19-related services in response to the country’s emerging needs, ensure adequate testing capacity, and enhance healthcare services through the adoption of business innovations.

“The transaction will allow Doctors Hospital to emerge in a stronger position to serve its patients, adding expanded outpatient services, including on other islands. The evolution of the pandemic has underscored that access to health services remains a challenge for many people.”

As for the $40m loan to the public healthcare system, which is focused on improving healthcare access in the Family Islands, the IDB said in a statement that this aspect of the project is designed to benefit some 60,000 Bahamians.

And the introduction of tele-medicine and digital patient records aims to benefit around 157,000 Bahamians, or 40 percent of the population.

“Enhancing the capacity to provide primary healthcare by reinforcing medical facilities and providing new medical equipment, it will facilitate access and improved services to approximately 60,000 people living in nine Family Islands,” the IDB said of the $40m loan initiative.

“Improvements in the delivery of the primary healthcare model and hospital services, and the introduction of digital health information systems, including telemedicine and electronic health records in 54 clinics, will improve access and quality of healthcare. These measures will directly benefit at least 157,000 persons, or about 40 percent of the population of The Bahamas.

“The operation aligns with the digitalisation, climate change, and gender and diversity priorities of the IDB’s ‘Vision 2025’, the bank’s blueprint for recovery and inclusive, sustainable growth in Latin America and the Caribbean,” the IDB added.

“It does so by offering technological solutions that enable the delivery of more inclusive health services, with special attention to strengthening the resilience of clinics to natural hazards and climate change, while implementing innovations in healthcare for victims of gender-based violence.”