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The Asian Development Bank (ADB) has signed a Rs 1 billion, about $13.7 million, debt financing agreement with India&rsquo;s Global Health Private Limited (Medanta) aimed at providing essential health care services and medical equipment in the wake of the coronavirus pandemic.</p>
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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.</p>
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&ldquo;Private sector health care services play a life-saving role during health crises such as the COVID-19 pandemic,&rdquo; Aniruddha Patil, head, Health and Education Investments at ADB&rsquo;s Private Sector Operations Department said. &ldquo;Medanta&rsquo;s proven expertise and leadership will further improve the resilience of India&rsquo;s health system, enabling it to respond effectively to the current crisis and future health care challenges,&rdquo; he said.</p>
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&ldquo;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,&rdquo; Global Health Chairman and Managing Director Naresh Trehan said in a statement.</p>
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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&rsquo;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.</p>
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