📋 Tender Overview
Project Name
Ankura Women and Children Hospitals Expansion Project
Project Number
58128-001
Borrower / Company
Ankura Medical & Research Centre Private Limited
Country / Economy
India
Location
Nation-wide
Type or Modality of Assistance
Approval Number Facility Fund Source Amount Status
7883 Debt Security Ordinary capital resources USD 20.00 million Committed
Operational Priorities
OP1: Addressing remaining poverty and reducing inequalities
Sector / Subsector
Health / Health care finance
Gender
Gender equity theme
Project Sponsor(s)
Description
Senior secured non-convertible debentures (NCD) facility of up to $20,000,000 (or its rupees equivalent) Indian Rupees (INR) 1,650 million ($20 million) from ADB's ordinary capital resources to Ankura Medical & Research Center Private Limited (Ankura).
Objectives and Scope
The project involves (i) expanding AMPL's network by adding five (5) new hospitals with an aggregate capacity of 500 beds; (ii) upgrading AMPL's existing hospitals by refurbishing them and adding 20 additional beds, medical equipment, and services; (iii) funding the working capital requirement in existing and new hospitals; (iv) installing rooftop solar power systems at some hospitals; (v) strengthening AMPL's training capacity and high-quality clinical operations across its hospitals, and (vi) reimbursing capital expenditure incurred on the project that is funded through bridge financing, share-holder loans, or internal accruals, from 1 April 2024 onwards.
Linkage to Country/Regional Strategy
The project is aligned with strategic pillar 3 of ADB's country partnership strategy for India, 2023-2027 (deepen social and economic inclusiveness), by focusing on improving basic urban services, supporting privately funded health care infrastructure in tier-2 and tier-3 cities and the low-income states, and by supporting health care providers that work with government health insurance programs.
Environmental Aspects
In compliance with ADB's Safeguard Policy Statement (2009), external consultants conducted a corporate audit of the existing environmental and social management system (ESMS) of Ankura Medical Research Centre Private Limited (AMPL) and E&S compliance audits of a representative sample of existing hospitals. The E&S due diligence (ESDD) did not find potential significant adverse, irreversible, unprecedented, and diverse environmental, health and safety impacts. A corrective action plan (CAP) was developed as a result of the ESDD. The CAP items were agreed with AMPL and are being implemented based on required timeline. An environmental assessment and review framework (EARF) was also developed to guide the preparation of initial environmental and social examination (IESE) of any new hospitals that will be identified during project implementation.
Involuntary Resettlement
The project is not expected to entail any involuntary resettlement impacts. AMPL operates on an asset-light model where it leases an existin
