The World Bank Approves Loan to Improve Access to and Quality of Healthcare Services in Bolivia

Stocks and Financial Services Press Releases Tuesday June 19, 2018 09:09
WASHINGTON--19 Jun--World Bank

WASHINGTON, June 14, 2018 – The World Bank Board of Directors approved a US$ 300 million loan today to improve access to and quality of healthcare services for 3.8 million Bolivians. The goal of the project is to implement a comprehensive hospital management system through networks, complemented by training of healthcare professionals and the construction and equipping of 10 hospitals.

"The work that the World Bank does with the Government of Bolivia reflects a strategic partnership based on the shared objective of working for the country's development. The resources from this operation will benefit more than three million Bolivians, who will have dignified access to different healthcare services. This will be manifested through the building of secondary and tertiary care hospitals, as well as through the training of specialists," said Mariana Prado Noya, Bolivia's minister of planning and development.

Bolivia has significantly reduced its child mortality rate and increased access to primary healthcare services. Nevertheless, other key challenges remain, which are associated with non-communicable diseases, particularly cardiovascular conditions, cancer and diabetes, among others. These diseases continue to be leading causes of death, particularly among the population living in poverty.

Primary healthcare facilities require an effective system for referring more complex cases to secondary and tertiary care facilities. The new hospitals – nine second-level and one third-level – will facilitate this.

"The project, which was designed by the Government of Bolivia with World Bank support, will increase the quality of and access to healthcare services, especially for women, children and indigenous populations. In addition to the new fully-equipped hospitals, human resource capacities will be strengthened, and clinical care standards will be applied. All of these actions will work to reduce gaps in coverage and optimize coordination of services nationwide," said Alberto Rodríguez, World Bank Director for Bolivia, Chile, Ecuador, Peru and Venezuela.

The project will train physicians (specialists, sub-specialists and internists), nurses, and healthcare management and administrative personnel. The project will finance professional training in the country and abroad through agreements with international educational institutions, medical residency programs, graduate study in hospital management, training in healthcare services in intercultural environments, technical assistance, and educational teams to support residency programs.

The measures to improve healthcare service quality include the development and updating of clinical care protocols, the updating and implementation of accreditation standards, and the establishment of information systems in the new hospitals that are compatible with the existing National Health Information and Epidemiological Surveillance System (SNIS).

Of the total US$ 300 million in Project financing, US$ 252 million corresponds to a loan from the International Bank for Reconstruction and Development (IBRD), with a maturity period of 23.5 years and a grace period of 13.5 years. The remaining US$ 48 million is a loan from the International Development Association (IDA), with a maturity period of 23.5 years and a grace period of 14 years. The IBRD and IDA are the entities of the World Bank Group which provide financing to the Bank's member countries.

Latest Press Release

Echoworx expands EU reach with new German data centre

Echoworx is pleased to announce the opening of their new data centre in Germany. This move further entrenches Echoworx's presence and competitive edge within the EU region. Known for its proven manufacturing industries, from automotive to...

EXIM Thailand Holds FX Risk Management Seminar Phase 2 to Promote the Use of FX Risk Hedging Tools for SME exporters

Mr. Chana Boonyachai (right), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently welcomed Mrs. Varintorn Chaivivat (left), Vice-Director, Northern Region Office, Bank of Thailand and Mr. Kobsak Duangdee (center),...

Photo Release: Prudential Thailand organizes Agency Kick Off 2019

Mr. Aman Chowla (7th from right), Chief Executive Officer, Prudential Life Assurance together with Mr. Wichai Cheewasrirungruang (6th from left), Chief Agency Officer, Prudential Life Assurance and the executive management of Prudential Life Assurance...

Photo Release: Bangkok Bank welcomes R3 members to the first Voltron project workshop in Thailand

Bangkok Bank Executive Vice Presidents Pornnit Dunnvatanachit , Kukkong Ruckphaopunt and Senior Vice President and Trade Finance Center Manager Kajohnsak Manaviriyakul welcomed R3 members who joined a Voltron project workshop, the first to be held in...

ZEN Corporation Group Plc. to sell 75 million IPO shares after SEC approved Filing Count 1 Highlights food service business Raises fund for branch expansion and restaurant improvements

'ZEN Corporation Group Plc.' or ZEN is preparing to make its Initial Public Offering (IPO) of 75 million shares after the Securities and Exchange Commission (SEC) approved its Filing Count 1. The group is highlighting its food service business which...

Related Topics