The Central Bank of Nigeria (CBN) says it has disbursed over N85 billion to no fewer than 80 projects, under its Health Care Credit Support scheme, the bank’s Director of Development Finance, Yila Yusuf, has announced.

In an interview with News Agency of Nigeria (NAN) on Wednesday in Abuja, Mr. Yusuf said that the projects cut across medical, pharmaceutical, herbal and other related products, and a funeral home.

He spoke against the backdrop of the apex bank’s award of N253.54 million Health Care Sector Research and Development Intervention Scheme (HSRDIS) grants to five researchers on Tuesday.

“In the health care credit support scheme, we have disbursed over N85 billion to more than 80 projects, mainly to reposition and enhance capacity of hospitals and pharmaceutical companies. We even financed a funeral home,’’ he said.

He said under the HSRDIS, an empanelled body of experts, chaired by the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Professor Mojisola Adeyeye, received over 200 research entries, 68 were evaluated and the best five entries picked for the grants.

He added that more grants would be awarded, as entries continue to be evaluated, while the grants were being disbursed on a “milestone basis,” rather than as a “bullet payment.”

“The CBN Governor, Godwin Emefiele, has restated the apex bank’s commitment to supporting the growth of Nigeria’s health sector while assuring that more grants will be awarded based on the recommendations of the Body of Experts,” Mr. Yusuf said.

He urged corporate organisations to support research and development for the overall good of Nigeria.

The CBN approved N100 billion credit support scheme for the health care sector in 2020, in response to the COVID-19 pandemic.