One of Nigeria’s leading commercial lenders, Unity Bank, has announced the launch of a product called UnityCares following the establishment of credit support intervention fund by the Central Bank of Nigeria for the health sector.
In a statement, the Bank said the product is intended to ease the facilitation of on-lending scheme targeted at individuals, businesses, manufacturers and services providers in the healthcare sector.
“ UnityCares is a credit scheme, which is aimed at supporting indigenous pharmaceutical companies and healthcare practitioners and other value chains businesses to provide access to loan facilities of up to N2 billion per company at 5 per cent interest rate.” The statement read.
The new product is aimed at providing long-term, low-cost finance for healthcare infrastructural development, healthcare product manufacturing, healthcare services and pharmaceutical/medical product distribution and logistics services among others.
According to the Divisional Head, Retail, SME & E-business, Unity Bank, Olufunwa Akinmade, operators in the health sector are encouraged to take advantage of the affordable new facility to expand their capacity while playing their part in curbing medical tourism and conserving the desperately-needed foreign exchange.
“UnityCares provides an invaluable opportunity to channel funds to Nigerian-owned healthcare businesses to build and expand capacity to meet exigencies for essential healthcare products and services in the face of unraveling global pandemic.” He said.
According to the statement, a healthcare organisation may not need an account with Unity Bank to benefit from the UnityCares on-lending scheme.