India : COVID-19 Hospital Service Delivery Project
The transaction involves debt financing of up to $20,000,000, (in Indian rupee equivalent) from the ordinary capital resources of the Asian Development Bank (ADB) in nonconvertible debentures (NCDs) to be issued by Global Health Private Limited (GHPL) for the COVID-19 Hospital Service Delivery Project in India.
Project Details
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Project Officer
Patil, Avesh
Private Sector Operations Department
Request for information -
Approval Date
6 August 2020 -
Country/Economy
India -
Sector
- Health
| Project Name | COVID-19 Hospital Service Delivery Project | |||||
| Project Number | 54185-001 | |||||
| Borrower / Company | Global Health Private Limited |
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| Country / Economy | India |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality |
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| Sector / Subsector | Health / Health system development |
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| Gender | Some gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Office of the Director General, PSOD | |||||
| Responsible ADB Officer | Patil, Avesh | |||||
| Project Sponsor(s) | ||||||
| Description | The transaction involves debt financing of up to $20,000,000, (in Indian rupee equivalent) from the ordinary capital resources of the Asian Development Bank (ADB) in nonconvertible debentures (NCDs) to be issued by Global Health Private Limited (GHPL) for the COVID-19 Hospital Service Delivery Project in India. | |||||
| Objectives and Scope | The proceeds of ADB's investment are used to scale up GHPL's critical care capacity and to support its short-term funding needs to ensure the continued provision of essential and non-essential healthcare services amid the COVID-19 pandemic in India. | |||||
| Status of Development Objectives | The Borrower has substantially achieved most of the development targets. Certain targets like number of isolation beds and ventilators were not achieved in full due to containment of the first wave of the COVID-19 in India, before the country was hit by the second wave in April-May 2021 which did not allow for sufficient reaction time to upgrade capacities. | |||||
| Status of Operation/Construction | Essential and non-essential healthcare services by GHPL have been maintained during the COVID-19 pandemic in India. | |||||
| Linkage to Country/Regional Strategy | The project complements ADB's $1.5 billion COVID-19 loan to the Government of India. The loan was approved in April 2020 for disease containment and prevention, and social protection for the poor and economically vulnerable, including women. Among others, the sovereign COVID-19 response includes health system measures, including for better testing capacity, training for public sector healthcare workers, and an increase in COVID-19 isolation ward capacities, particularly at public hospitals. In line with ADB's Operational Plan for Health's emphasis on taking private sector approaches to solve quality, efficiency, and financing issues in health infrastructure, this private sector financing will support private hospital operations in India. The Operational Plan for Health includes supporting regional health security with a focus on regional health governance. |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | The project is likely to have minimal or no adverse environmental impacts. GHPL hospitals implement processes and procedures for managing environmental, health and safety (EHS) including occupational health and safety (OHS) of staff and community health and safety that meet regulatory requirements and follow WHO guidelines, These include waste and wastewater management, hazardous materials handling and storage, air pollution controls, fire and life safety, hygiene, disinfection and cleaning, separation and isolation of infectious persons, personal protective equipment. |
| Involuntary Resettlement | The project is not expected to result in involuntary resettlement impacts. Land acquisition and resettlement is not required as no new facilities will be established. |
| Indigenous Peoples | The project is not expected to have impacts on indigenous peoples. The project will utilize existing facilities in urban areas where no known indigenous communities are present. |
| Stakeholder Communication, Participation, and Consultation | The project is focused on providing Medanta's personnel with sufficient PPE and adequate training as well as on providing proper patient care equipment. The project will also meet the short-term financing needs of the company to ensure that it is able to continue the provision of essential and non-essential medical services for non-COVID-19 patients in addition to COVID-19 positive patients. These project activities will benefit all Medanta's patients. |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 20 Apr 2020 |
| Credit Committee Meeting | 20 Jul 2020 |
| Approval | 06 Aug 2020 |
| Last PDS Update | 21 Oct 2022 |
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 |
|---|---|---|
| COVID-19 Hospital Service Delivery Project: FAST Report | Faster Approach to Small Nonsovereign Transactions | Aug 2020 |
| COVID-19 Hospital Service Delivery Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jul 2020 |
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.
ADB, Medanta Sign Debt Financing to Support COVID-19 Response in India
The Asian Development Bank (ADB) has signed a 1 billion Indian rupee, or about $13.7 million, debt financing agreement with India’s Global Health Private Limited (Medanta) to provide essential health care services and medical equip....