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100m funding for hospital upgrades

Fri, Jun 18th 2021, 08:50 AM
Business Finance Tribune Stories

MORE than $290m has been earmarked in the upcoming fiscal year for public healthcare and safety initiatives, with over $100m targeted for infrastructure repairs and critical hospital upgrades.

Mr Bannister, whose comments came during his contribution to the budget debate in the House of Assembly yesterday, said the board of the SMA encountered the debt when it took office in 2017. He suggested the former Christie administration allowed the debt to accrue.
#“From April 2015 to December 2017, the Straw Market Authority failed to make any of its required National Insurance contributions,” he said, adding that the estimated legacy debt to NIB as of March 19, 2019 was $184,065 in outstanding contributions, including $15,737.25 in interest.
#“All I’m going to say to you is that debt has now been paid in full by this board,” he said.
#Mr Bannister also said when the board was appointed in September 2017 the SMA owed BPL $139,463.67.
#“That bill to BPL has now been retired in full,” he said. “Unlike members opposite, this FNM government does not merely talk about fiscal responsibility in governance, we act.”
#He said in September 2017 the board also encountered $58,518.71 owed to the Water and Sewerage Corporation which has since “been retired in full.”
#He said the board found $112,319.35 in telecommunication bills when it took over, including $45,935.63 associated with board members’ cell phone use plus $66,383.72 in landline charges.
#“The Straw Market Authority has now paid that bill in full and has cancelled cell phones,” he said.
#He added: “The Straw Market Authority has had no revenue since the close of the markets due to the COVID-19 pandemic. The budget expenses for 2020 were $1,280,185.60. The actual expenses were $957,698, a decrease of 25 percent. The net loss of (the) authority was $777,147.98. I’m not supposed to say this, Mr Speaker, but for the first time now, the Straw Market Authority actually has money in the bank.”

While making his contribution during the 2021/2022 budget debate yesterday, Health Minister Renward Wells outlined several key areas his ministry will be focusing on for the next fiscal year.

This includes infrastructural upgrades, expansion of telemedicine system and universal healthcare coverage and COVID-19 related support.

Mr Wells said $297,081,014 has been budgeted for his ministry in support of its initiatives, with a considerable portion of those funds earmarked for renovation works at Princess Margaret Hospital, Rand Memorial Hospital and other medical care facilities.

The figure, however, is a slight decrease compared with the previous fiscal cycle, which saw a budget allocation of $298,037,239.

Still, Mr Wells insisted yesterday that with the new budget, the Minnis administration will still be able to “transform the face of the healthier care sector” and fulfil its promises to the Bahamian people.

He said funding for hospital and clinic upgrades will be facilitated through loan agreements secured between the government and the World Bank Multilateral Investment Guarantee Agency (MIGA) and the Inter-American Development Bank.

He told the House of Assembly: “On the 16th of March, of this year, 2021, the Cabinet of The Bahamas authorised the PHA to access loan funding of $89,036,855.95 from the World Bank (MIGA) to fund capital projects.

“These projects are to modernise the infrastructure of the Princess Margaret Hospital, the Sandilands Rehabilitation Centre in New Providence and the Rand Memorial Hospital in Grand Bahama.”

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