The Case for a Health Development Bank of Nigeria

This advocacy memorandum makes a case for the establishment of a Health Development Bank of Nigeria. This is premised on the poor funding of the health sector across the tiers of government; the low absorptive capacity of the Federal Ministry of Health; the equipment, infrastructure and technology needs of the sector and the need to tie investments to results. Others are responding to health tourism; repositioning the pharmaceutical, medical devices and equipment industry; facilitating private sector service delivery; the need to develop critical human resources for health competencies; enhancing sustainability and credibility of health financing; and improving health sector contribution to job creation, taxes and GDP. The Health Bank will provide equity capital and funds by way of single digit interest loans to Nigerian public and private health institutions, establishments and organizations for short, medium and long-term investments in the health sector at such rates and upon such terms as may be determined by the Board of Directors in accordance with best practices in development banking policy.