Regulatory Alerts2020-03-25 | FPR/DIRGEN/CIR/07/051Guidelines for the Operations of the N100 Billion Credit Support for the Healthcare Sector
The Central Bank of Nigeria (CBN) has issued guidelines for a ₦100 billion credit support intervention for the healthcare industry to cushion the impact of COVID-19. The scheme aims to provide credit to indigenous pharmaceutical companies and healthcare value chain players to strengthen their capacity and meet potential demand. The objectives include reducing health tourism, providing long-term finance for infrastructure development, improving access to affordable credit, and supporting shared services to reduce healthcare costs. Eligible participants include healthcare product manufacturers, service providers, and distributors. The scheme offers working capital and term loans with specified limits, interest rates, and tenors. Participating financial institutions, stakeholders, and borrowers have defined roles and responsibilities, with penalties for infractions. The intervention will exit by December 31, 2030, and the guidelines are subject to review by the CBN.