How IFC and Odisha are improving health infrastructure in India
In an attempt to improve health infrastructure under a public-private partnership (PPP) model, the International Finance Corporation (IFC) has partnered with the Odisha government to develop up to 12 specialty hospitals in India.
The Odisha Affordable Healthcare Project intends to establish each hospital with 50-200 beds. At full capacity, the project will increase the number of beds in the state by eight percent while also improving the availability of private beds by 15 percent.
It is the first major and systematic roll-out of hospitals under the PPP model in the nation, and the project is expected to attract private investments of between $30-50 million.
"The Odisha government has taken a lead in developing practical and larger-impact models involving private-sector partnerships to provide critically-needed health infrastructure,” said Odisha principal secretary of health and family welfare, Arti Ahuja. “This project will create affordable healthcare facilities on a decentralized model.
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“It will provide cost-effective, quality, and efficient healthcare services to ensure better health outcomes, especially for the economically disadvantaged.
IFC is the investment subsidiary of the World Bank Group, which is an international financial institution that provides loans to developing countries for capital programs. As the lead transaction advisor, IFC will structure the rollout of low-cost hospitals that will offer quality medical care at reasonable prices to residents.
As the lead transaction advisor, IFC would structure the rollout of low-cost hospitals that would offer quality medical care at affordable prices to residents, especially those living in smaller towns and rural areas.
“IFC and Odisha government have partnered to improve health infrastructure on a public-private partnership model,” said the World Bank group firm in a statement.