WASHINGTON, USA — The Inter-American Development Bank (IDB) has approved a $500 million loan based on results to increase healthcare benefits for retirees and pensioners affiliated with the national institute of social services for retirees and pensioners.

The operation, which has been approved by the IDB board of executive directors, aims to improve existing comprehensive care policies for chronic diseases, provide more access to cancer treatment, expand coverage for people who need long-term care, and enhance affiliates’ experience with the services provided by the Institute.

The program will also promote the systematic use of information from institutional systems as input to guide government work. Among other outcomes, the operation aims to expand comprehensive coverage for hypertension, diabetes, and kidney disease; reduce waiting times for breast and colon cancer surgeries; and increase access to long-term care for those who need it.

This program will benefit nearly 5.4 million affiliates. The national institute of social services for retirees and pensioners provides comprehensive health coverage and social assistance to retirees and pensioners and their dependents through its own health centers or by purchasing services from public or private entities.

The IDB loan has a 25-year repayment term, a 5.5-year grace period, and an interest rate based on the Secured Overnight Financing Rate (SOFR).