IFC, the investment arm of the World Bank Group, has partnered with Odisha government to improve health infrastructure under PPP mode in the state by developing around 12 speciality hospitals.
As the lead transaction advisor, International Finance Corporation (IFC) will structure the rollout of low-cost hospitals that will offer quality medical care at affordable prices to all residents, especially those living in smaller towns and rural areas.
The Odisha Affordable Healthcare Project will develop up to 12 hospitals with 50-200 beds each. At its full capacity of 2,400 beds, the project will increase overall beds in the state by eight per cent and increase availability of private beds by 15 per cent.
The project is the first large and systematic roll-out of hospitals under the PPP model in the country.
“The government has taken a lead in developing practical and larger-impact models involving private sector partnerships to provide critically-needed health infrastructure. This project would create affordable healthcare facilities on a decentralised model,” Arti Ahuja, Principal Secretary, Odisha Health and Family Welfare department said.
She said the project would provide cost-effective, quality and efficient healthcare services to ensure better health outcomes, especially for the economically disadvantaged group of people.
Principal secretary Pradeep Kumar Jena, who is in–charge of PPP execution said, “IFC will choose the private partners through tenders within one year and the projects will be completed in one year time of the agreement.”
The project is expected to attract private investments worth USD 30-50 million.