fbpx 53349-001: Hospital Bond Project | Asian Development Bank

Georgia: Hospital Bond Project

Nonsovereign (Private) Project | 53349-001 Status: Approved

Project Details

Project Officer
Kobayashi, Junnosuke Private Sector Operations Department Request for information
  • Georgia
  • Health
Project Name Hospital Bond Project
Project Number 53349-001
Borrower/Company JSC Evex Hospitals
Country Georgia
Location Nation-wide
Type or Modality of Assistance
3873 Loan Ordinary capital resources GEL 20.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Health / Health system development

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)
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.

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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.

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