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Far East Horizon Joins Hands with Asian Development Bank to Help Upgrade Rural Health Care!

Source:FAR EAST HORIZON CreateTime:2019-09-09

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Far East Horizon Joins Hands with Asian Development Bank to Help Improve Rural Health Care

Recently, Far East Horizon and the Asian Development Bank (ADB) signed a US$ 150 million loan agreement aimed at expanding the scale of lease financing for public hospitals in 12 least developed provinces in China, thus improving the medical services of China's rural population.


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"There are still many hospitals in central and western China, especially those below the county level, which are far from the central cities in terms of medical equipment allocation and medical skills. For many years, the Far East Horizon has been fully promoting this development. "

Wang mingzhe, Executive Director and Financial Director of Far East Horizon, described the company's "initial" cooperation with ADB.

Indeed, there is still a huge gap in the level of medical services between urban and rural areas in China at present-as of 2016, the number of hospital beds per 10,000 population in medical institutions in urban and rural areas in China is 84.13 and 39.09 respectively, with obvious imbalance in resources. However, domestic public hospitals, especially those in rural areas, usually need large amounts of funds to upgrade equipment and infrastructure, but they often have difficulty in obtaining bank financing.

Financial leasing has become a "good medicine" for the transformation and development of rural hospitals.

Through financial leasing, these hospitals can not only reduce medical equipment procurement expenditure through direct leasing, but also obtain liquidity funds through selling and leasing existing equipment, which will better improve the operation capability of hospitals and urge them to provide better medical services.


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Wang mingzhe also said that as a company based on China's basic industries, focusing on financial leasing and paying attention to the service of real industries, Far East Horizon has always adhered to the vision of "gathering global resources to help China's industries". The company has been deeply engaged in the field of medical and health leasing for nearly 20 years. It has not only accumulated rich experience, but also regarded helping the medical industry upgrade as its own duty. Thank ADB for its trust and support to Far East Horizon, and also thank ADB for enabling the company to more effectively boost the development of the customers we serve.

According to the agreement, Far East Horizon will use ADB loans to support hospitals in the 12 provinces in central and western China with the lowest per capital income to rent or purchase modern medical equipment. In other words, ADB's loan of 150 million US dollars will be fully used in county-level hospitals that mainly serve the surrounding rural population.

"The agreement signed by ADB and Far East Horizon will help public hospitals obtain much-needed funds to invest in upgrading equipment through financial leasing, thus providing better services and improving people's lives."

Christine Engstrom, Director of Private Sector Financial Institutions at the Asian Development Bank, expressed her expectations for this cooperation and also gave Far East Horizon, a familiar partner, full trust.

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The two sides have been bound together for a long time.

They worked hard for environmental protection.

The Asian Development Bank was established in 1966 and consisted of 68 members. It is committed to promoting social and economic development in Asia and the Pacific by providing loans, grants, technical assistance and equity investments to its member countries.

As an international financial institution with a long history, ADB is no stranger to the Far East Horizon, which has a similar mission. The two sides started cooperation as early as six years ago.

In 2013, Far East Horizon and ADB set a successful cooperation precedent in the direction of urban public transportation and green economy and accumulated considerable industry depth. At that time, the eight-year US$ 100 million loan managed by Far East Horizon was part of the ADB's first non-sovereign loan project to support China's sustainable transportation development. ADB has successively supported Far East Horizon to implement the "Clean Energy Bus Rental Project" in more than 20 cities across the country, helping 27 public transport operators to purchase 1,860 green energy buses, of which about 37% are located in underdeveloped areas in China.


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The annual mileage of the newly-added new energy vehicles reached 156 million kilometers, with an estimated annual greenhouse gas emission reduction of 482,500 tons, equivalent to a reduction in the burning of 116,600 tons of standard coal. More importantly, the new vehicles under the loan have also created 315 jobs, giving a strong impetus to the regional economic development.

Helping basic industries, balancing regional resources, and a successful cooperation have linked Far East Horizon with ADB to form a bond of trust.

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Business model trusted

The "range of friends" keeps growing

The ADB's continuous and significant cooperation with Far East Horizon is not only based on the consideration of high-quality projects, but also proves its full recognition of the company's profound industrial genes and correct business model.

This hand-in-hand with ADB's "old friends, new journey" is also a microcosm of the good cooperation between Far East Horizon and the bank. At present, Far East Horizon has formed a global three-dimensional resource guarantee system that spans both at home and abroad, has multiple currencies, and is coordinated with direct and indirect financing.


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Go hand in hand and take it easy. Far East Horizon will uphold its corporate mission of "gathering global resources to help Chinese industries", continue to adhere to the correct strategic guidance of "finance+industry", work closely with domestic and foreign financial institutions to help upgrade industries and cities, and continuously, effectively and continuously create value for all parties.