New Delhi, India, August 27, 2012—IFC,
a member of the World Bank Group, is working with India’s eastern state
of Jharkhand to expand medical infrastructure through a public-private
partnership model, expanding access to improved healthcare services for
four million people.
IFC will assist the state government
in selecting a private partner through a competitive and transparent process.
This partner will equip, staff, and expand the government-owned, 40-bed
Sadar Hospital into a 500-bed facility to provide secondary and tertiary
care. IFC will similarly assist the state’s district hospitals and medical
colleges to identify private operators who can provide advanced radiological
imaging and pathological testing services. Both these projects are expected
to raise about $75 million in private sector investments.
“With IFC’s experience in privatization
and restructuring, the state aims to leverage private sector funds and
capability to improve public healthcare delivery,” said Hemlal Murmu,
Minister of Health, Medical Education and Family Welfare for Jharkhand.
The projects will include training of
government staff to manage these programs and conduct similar transactions
in future. IFC will also explore the viability of setting up an associated
medical college with private participation.
Thomas Davenport, IFC’s Director for
South Asia, said, “These projects will help address the shortage of quality
healthcare services and medical professionals in the state, and expand
access to medical care among patients.”
IFC has successfully implemented a similar
project in four government hospitals of Andhra Pradesh by assisting the
state in engaging a private sector company that installs and manages advanced
diagnostics in public hospitals, and that trains students in attached medical
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.