Aged-care providers to access $100m to boost beds, infrastructure through Low-Interest Loan Scheme

Aged-care providers will now be able to access low-interest loans to construct more beds as the Cook Government launches its $100 million scheme. The $100m fund, dubbed the Low-Interest Loan Scheme, will be available for aged care providers to build new aged care beds and refurbish and expand aged care infrastructure. The scheme offers loans at a reduced interest rate compared to commercially available loans, making it more affordable for providers. Each individual loan can be up to $20m. Aged Care and Seniors Minister Simone McGurk said the loans would help more people in need access aged care. “Partnering with aged care providers through this loan scheme ensures older Western Australians will have access to the high-quality residential aged care they deserve,” she said. “By increasing availability of residential aged care, we will ensure Western Australians can access appropriate aged care support not only in our urban centres but also in regional and remote areas.” The funding comes as the State and Federal Governments fight over funding for aged care amid record ambulance ramping over the winter. The State Government has repeatedly blamed the number of older patients stuck in hospital beds waiting for aged care beds for putting strain on the system. Near the peak of the flu season, Health Minister Meredith Hammat estimated about 300 people were in hospital waiting for aged care beds. While aged care is a Commonwealth matter, a fight over how to fund the sector has been ongoing for months, with State ministers joining forces to demand a better offer from the Albanese Government.