Page 700 - ePaper
P. 700
SPECIAL TASK FORCE ON DEVELOPING INVESTMENT PROJECT
PIPELINE IN THE EU- MALTA PROJECT LIST
Government will co-finance through provision of land for locating
the new central stores and provision of technical studies already
undertaken.
Private sector will invest enough to bring government
/private/EU- EIB equity/mezzanine funding up to 50% of the
project costs.
Any equity shortfall could be offered to Development Banks,
Private Equity Funds and Sovereign Wealth Funds.
The remaining 50% end project financing will be raised through a
mix of traditional financing sources including long term loans from
Maltese banks which are very liquid.
A long term agreement is entered into between the SPV and
government whereby government will channel to the SPV the
greater part of the savings made through efficiencies generated
by the new system on an agreed performance based budgeting
basis.
Malta has a social system which offers free medicine to all inpatients in
state hospitals and old age residential facilities, free medicine to all
persons suffering from long term medical conditions (e.g. cholesterol
control), and free medicine for all conditions to the lower economic
strata of society on a means tested basis.
Medicine cost is one of the main expenditures of the health budget
(costs of medicinal products, appliances and equipment in absolute
terms: 2012 – €75.32 m.; 2013 – €73.50 m.; 2014 €84.00 m. being
approx.22% of the Health Operating Budget - and as a percentage of
4
GDP: 2012 – 1.10%; 2013 – 1.02%; 2014– 1.13%) .
The implementation of a new tech based system for medicine
procurement, control and distribution is a high priority project both to
improve the service to end users (by avoiding out of stock mishaps) and
to break the growth in the operational cost of operating the system.
4
Financial Estimates 2014 – page 317 – Ministry for Finance – 2013 figure provisional, 2014 figure estimate.
25 | P a g e
PIPELINE IN THE EU- MALTA PROJECT LIST
Government will co-finance through provision of land for locating
the new central stores and provision of technical studies already
undertaken.
Private sector will invest enough to bring government
/private/EU- EIB equity/mezzanine funding up to 50% of the
project costs.
Any equity shortfall could be offered to Development Banks,
Private Equity Funds and Sovereign Wealth Funds.
The remaining 50% end project financing will be raised through a
mix of traditional financing sources including long term loans from
Maltese banks which are very liquid.
A long term agreement is entered into between the SPV and
government whereby government will channel to the SPV the
greater part of the savings made through efficiencies generated
by the new system on an agreed performance based budgeting
basis.
Malta has a social system which offers free medicine to all inpatients in
state hospitals and old age residential facilities, free medicine to all
persons suffering from long term medical conditions (e.g. cholesterol
control), and free medicine for all conditions to the lower economic
strata of society on a means tested basis.
Medicine cost is one of the main expenditures of the health budget
(costs of medicinal products, appliances and equipment in absolute
terms: 2012 – €75.32 m.; 2013 – €73.50 m.; 2014 €84.00 m. being
approx.22% of the Health Operating Budget - and as a percentage of
4
GDP: 2012 – 1.10%; 2013 – 1.02%; 2014– 1.13%) .
The implementation of a new tech based system for medicine
procurement, control and distribution is a high priority project both to
improve the service to end users (by avoiding out of stock mishaps) and
to break the growth in the operational cost of operating the system.
4
Financial Estimates 2014 – page 317 – Ministry for Finance – 2013 figure provisional, 2014 figure estimate.
25 | P a g e
