IHH bags S$250 million sustainability-linked loan from DBS to promote safe use of antibiotics
The deal shows that such financing can go beyond traditional environmental metrics, says DBS
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[SINGAPORE] IHH Healthcare has secured a S$250 million sustainability-linked loan from DBS to tackle the misuse and overuse of antibiotics.
One of the key performance indicators tied to the loan is for IHH to promote the responsible use of antibiotics in its four Singapore hospitals: Mount Elizabeth, Mount Elizabeth Novena, Gleneagles and Parkway East.
This is the first known use case in which sustainable financing has been linked to strengthening antibiotic stewardship, IHH and DBS said in a statement on Friday (May 15).
Excessive and wrong usage of antibiotics have led to drug-resistant bacterial infections, which are harder to treat. They also strain healthcare systems and threaten ageing populations.
In response, IHH is strengthening its tracking of antibiotic “time-outs”. These are follow-up reviews within 72 hours of starting treatment to assess whether the course of the drug should be continued or adjusted.
The healthcare sector currently does not track antibiotic time-out compliance rates consistently.
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The loan is “breaking new ground in what sustainable finance can achieve in the healthcare sector”, said IHH’s chief financial officer Dilip Kadambi.
It also demonstrates how sustainable finance can evolve beyond traditional environmental metrics to address social and public health challenges, said Dr Eugene Hong, head of healthcare and pharmaceuticals at DBS’ institutional banking group.
IHH’s initiative is in support of Singapore’s National Strategic Action Plan on Antimicrobial Resistance.
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