| Project Name | Hospital Bond Project | |||||
| Project Number | 53349-001 | |||||
| Borrower/Company | JSC Evex Hospitals |
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| Country | Georgia |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Partnerships Private sector development |
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| Sector / Subsector | Health / Health system development |
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| Gender Equity and Mainstreaming | Some gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Portfolio Management Division, PSOD | |||||
| Responsible ADB Officer | Kobayashi, Junnosuke | |||||
| Project Sponsor(s) | ||||||
| Description | ||||||
| Objectives and Scope | The project will invest up to GEL20.0 million (or its equivalent in US dollars) in local currency in Evex Hospitals' larger overall bond issuance of GEL50.0 million. The proceeds will be used to diversify its funding sources and partly repay its local currency debts, expand coverage of specialist medical services, and improve professional development of healthcare providers and hospital management. | |||||
| Status of Development Objectives | The project is aligned with the following impacts: (i) local capital market developed through issuance of debt securities and local currency bonds; and (ii) aim to expand coverage for the UHC program supported, and quality and management of health service delivery improved by 2030. | |||||
| Status of Operation/Construction | Under implementation. | |||||
| Linkage to Country/Regional Strategy | The project is aligned with one of the focus areas of ADB's country partnership strategy for Georgia to create an enabling environment to support institutional reforms and other interventions for resource mobilization, including through measures to deepen capital markets. The project also supports the Georgia 2020 Strategy to develop human capital through the provision of quality and affordable health care. |
| Safeguard Categories | |
|---|---|
| Environment | B |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | The project is category B for environmental aspects with limited site-specific impacts, and no irreversible environmental impacts. Evex Hospitals has policies and procedures in place at the corporate and hospital levels for the management of the environment, health, and safety; human resources; and social matters, which are commensurate with the risks and impacts associated with its operations. |
| Involuntary Resettlement | The project is category C for involuntary resettlement as no involuntary resettlement impacts are associated with this transaction. Evex Hospitals has no plans to acquire new land or assets as part of this project. For current assets, Evex Hospitals has focused on the acquisition and renovation of preexisting facilities and/or former hospitals, and has not expanded beyond the current footprint. Assets and titles are acquired through negotiated commercial agreements. |
| Indigenous Peoples | The project is category C for indigenous peoples as the project will not entail financing new or expanding existing health projects that have or will directly and/or indirectly affect the dignity, human rights, traditional sociocultural beliefs and practices, or livelihood systems of distinct and vulnerable ethnic minority groups. |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 15 Oct 2019 |
| Credit Committee Meeting | 20 Nov 2019 |
| Approval | 26 Nov 2019 |
| Last PDS Update | 22 Jan 2020 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
| Title | Document Type | Document Date |
|---|---|---|
| Hospital Bond Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Nov 2019 |
| Hospital Bond Project: FAST Report | Faster Approach to Small Nonsovereign Transactions | Nov 2019 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.