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ADB, Medanta sign $13.7 million agreement to provide essential healthcare services

ADB, Medanta sign agreement for Covid and non Covid healthcare services

The Asian Development Bank (ADB) has signed a Rs 1 billion, about $13.7 million, debt financing agreement with India’s Global Health Private Limited (Medanta) aimed at providing essential health care services and medical equipment in the wake of the coronavirus pandemic.

The agreement will facilitate purchase of personal protective equipment, basic hygiene products, and patient care equipment such as ventilators and beds, a press statement issued by the ADB said. It will also support staff training programs on infection prevention and control.

“Private sector health care services play a life-saving role during health crises such as the COVID-19 pandemic,” Aniruddha Patil, head, Health and Education Investments at ADB’s Private Sector Operations Department said. “Medanta’s proven expertise and leadership will further improve the resilience of India’s health system, enabling it to respond effectively to the current crisis and future health care challenges,” he said.

“The financing will help us focus on increasing health care capacity to satisfy the strong Indian demand for both Covid-19 and non-Covid-19 related treatment,” Global Health Chairman and Managing Director Naresh Trehan said in a statement.

This debt financing is part of a $20 billion assistance package announced by the multilateral agency last year to help its developing members manage the pandemic. The funding complements ADB’s sovereign support to India, including a $1.5 billion loan approved in April last year for management of the Covid 19 pandemic and social protection for poor and economically vulnerable communities such as women.