Healthcare Sector Intervention Facility

The HSIF was established in March 2020 as part of the CBN proactive measures to cushion the impact of the coronavirus pandemic on the economy. A N100 billion-credit support intervention was introduced to the healthcare industry, with a view to strengthening the sectors capacity to meet demand for healthcare products and services.

Objectives:

  • Reduce health tourism in Nigeria to conserve foreign exchange
  • Provide long-term, low cost finance for healthcare infrastructure development that would lead to the evolvement of world-class healthcare facilities in the country;
  • Improve access to affordable credit by indigenous pharmaceutical companies to expand their operations and comply with the World Health Organization’s Good Manufacturing Practices (WHO GMP)
  • Support the provision of shared services through one-stop healthcare solutions to enhance competition and reduce the cost of healthcare delivery in the country.
MANAGING AGENT: - CBN

How to apply

  • Obligor approaches PFI of its choice and applies for the Fund
  • Obligor provides the required documents (including collateral)
  • The PFI appraises the application, approves and forwards the request to CBN for release of funds
  • CBN receives the application, appraises, processes for approval and disburses to the Obligor through the PFI
  • Obligor account shall be credited upon meeting conditions precedent to draw down
  • The Obligor accesses the funds at an all-in interest rate of 5% p.a.( to be reversed to 9% in March 1, 2022)
  • The Obligor repays the loan as and when due to the PFI plus accrued interest

    • Frequently Asked Questions

    How can I apply? You apply through your Bank

    What is the interest rate? 5% to be reversed to 9% in March 1, 2022

    What is the maximum amount one can apply? N2 Billion

    Is there a provision for moratorium? Yes, not more than 2years

    Does it support working Capital? Yes, 1year with 2years option to roll over

    What is the maximum amount? N50M for individuals and N500M for corporate organizations.

    What is the tenor? Not more than 10 years

    Can I do a refinancing? Not applicable

    Can I transfer my liability to another obligor? No

    Are all my exposure guaranteed by the CBN? No

    Does it support trading? No

    Does the facility support importation of fabric from other countries? No