The province plans to borrow $1.8 billion to deliver on a previously announced plan for long-term care.
The provincial government says in a news release the loan will be used to build or renovate 24 long-term care facilities in Nova Scotia and to set up 500 rooms in the Halifax area.
In February, the province announced it would create or improve more than 2,800 long-term care beds through 27 projects. Three of those projects already have funding in place.
“Making sure Nova Scotians have the peace of mind they deserve by being able to access long-term care when they need it will require one of the largest investments in this province’s history,” Seniors and Long-Term Care Minister Barbara Adams says in a news release. “Putting this funding in place allows construction to proceed without delay.”
The first facilities are set to open in 2023.
The province estimates there are 1,950 people on the long-term care waitlist, including 283 waiting in hospital
More than 21 percent of Nova Scotia’s population is over 65 years old, the third-highest percentage in the country.
