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THE private-sector arm of the World Bank said it has signed a
billion peso long-term loan agreement with Asian Hospital Inc. (AHI)
to refinance the hospital’s debts and expand its infrastructure.
In a statement, the International Finance Corp.
(IFC) said it will provide a P1.26 billion, or $30 million long-term
loan as part of a $70-million project to refinance AHI’s debt,
rationalize its operations, and expand the hospital’s
infrastructure and services.
Through this loan, IFC said it is helping
the company retain medical talent within the country and provide
jobs to more than 900 Philippine doctors, nurses, and
technical staff in a world-class health care facility.
IFC provided the original debt financing
that helped fund Asian Hospital’s construction in 2002. The funder
also helped restructure the hospital’s finances in 2005.
-- Darwin G. Amojelar
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