Partnering with local bank to increase access to financing for private health providers
SHOPS Plus announces a new partnership between USAID and Microcred Banque Madagascar (MBM) to increase access to financing options for small and medium-sized private health providers who offer services in water, sanitation, and hygiene (WASH).
To support this partnership, SHOPS Plus will work with MBM to promote the expansion of financial opportunities for private clinics and providers of health services, including WASH. The project will help the bank use USAID’s Development Credit Authority loan agreement program. The aim of the partnership is to improve the health and well-being of the Malagasy people.
Dr. Joséa Ratsirarson, secretary general of the Ministry of Public Health, announced the partnership on December 5 at a press conference in Antananarivo. Senior representatives from USAID and Microcred Banque Madagascar spoke at the event.
“The partnership that we launched today with Microcred is a key activity in the private sector development strategy for health and WASH,” said Daniele Nyirandutiye, USAID Health-Population-Nutrition Office Director.
Helping the private health sector expand is critical in this country, where the public health sector is able to provide an estimated one-third of the people with basic health services, and less than 50 percent of the population has access to clean water. Access to financial resources is a major constraint for the private sector so partnerships like this one will help private providers expand their offering and improve the quality of their health services.
“Many private sector health providers have ideas that can develop their work, but are unable to achieve them because of a lack of funding,” explained Michel Iams, Microcred general manager. “My wish is that with this partnership, MBM will participate in improving the living conditions of the Malagasy people. To achieve this goal, everyone needs to help, because each person has their own skills and expertise. MBM and USAID are joining forces to move forward in the same direction.”
MBM is a digital finance bank whose mission is offering quality financial services to allow people better access to banking services. Its services are tailored to the needs of unbanked populations, especially micro and small entrepreneurs, with a focus on financial inclusion. With partners such as USAID and SHOPS Plus, MBM seeks to improve the quality of life of its customers and their families and to participate in Madagascar’s development.