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N.S. to borrow $1.8 billion to fund previously announced long-term care project

Click to play video: 'Ongoing COVID-19 restrictions for long-term care facilities impacting residents' Ongoing COVID-19 restrictions for long-term care facilities impacting residents
With more COVID-19 in the community, many long-term care facilities that dodged the virus during the first four waves have been battling outbreaks. While seniors are among the most vulnerable, rates of death and serious infection show the vaccines are working. But strict restrictions remain in place for long-term care – and it’s taking a toll on residents. Alicia Draus reports – Apr 29, 2022

Nova Scotia will borrow up to $1.8 billion to fund previously announced long-term care projects over the next few years.

The provincial government says in a statement the loans will finance the construction or renovation of 27 long-term care homes in the Halifax area.

Read more: Nova Scotia plan to address challenges in health system panned for lacking detail

The province announced in late February that it planned to create or improve more than 2,800 long-term care beds across the province over the next few years.

A spokesperson for the province says the $1.8 billion will likely be borrowed from the Canadian market, adding that the government had access to the American market as well.

Read more: N.S. to add 500 new beds to long-term care system in about ‘3 to 5 years’

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The province says there were about 1,950 Nova Scotians waiting for long-term care spots as of April 20 and that nearly 300 of those people were waiting in hospital.

Nova Scotia has the third highest percentage of residents over the age of 65 in the country, with more than 21 per cent of Nova Scotians in that age group.

This report by The Canadian Press was first published May 11, 2022.

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