TABUK CITY, Kalinga – To provide reliable and quality healthcare services amid the ongoing COVID-19 pandemic, the Land Bank of the Philippines (LANDBANK) and MEDICUM The Medical Center, Inc. (MTMCI) have signed a P300-million loan agreement for the construction of a hospital building and support facilities with modern medical equipment in Tabuk City.
The new hospital will be completed next year and will be located strategically along the provincial road within the city’s commercial hub. It will start operations by early 2024 and will cater to the healthcare needs of Tabuk City residents, as well as the 16 municipalities and neighboring provinces of Kalinga, with a combined population of nearly 490,000.
“In line with LANDBANK’s thrust of extending essential services is the delivery of critical financial support to private healthcare providers. We remain committed to working with various partners to boost the local healthcare industry and provide accessible, quality healthcare services to Filipinos,” said LANDBANK President and CEO Cecilia C. Borromeo.
The four-story MTMCI hospital building will feature a capacity of 100 beds, complemented by separate cadaver and waste holding buildings.
As a Level II hospital, it will be equipped with modern medical equipment, such as a CT-scan machine, laparoscopy set, radiographic and fluoroscopic X-ray TV system, 2D echo system, and color ultrasound system, among others.
The MTMCI hospital will also increase the number of available beds in the target service area by 100 and help improve the projected bed to population ratio from 0.61:1000 to 0.78:1000—closer to the World Health Organization’s prescribed 1:1000 hospital bed availability.
“Aside from catering to the health needs of our people, this project will also help in the economic development of the city and province by providing added employment opportunities to our people, more taxes paid, and other benefits. We are so grateful to LANDBANK for granting us the much-needed loan to help bring about the success of our dream health facility,” said MTMCI President and CEO Dr. Rita M. Dong-as.
LANDBANK continues to support micro, small and medium enterprises (MSMEs) across the country to spur recovery and inclusive economic development. As of end-December 2021, the Bank’s outstanding loans to MSMEs have reached P40.04 billion.
