Centre signs USD 500 million loan package with ADB for health infra in Maharashtra
Aug 21, 2024
New Delhi [India], August 21 : India on Wednesday signed a loan package of USD 500 million with the Asian Development Bank (ADB) to improve access to quality and affordable tertiary health care and medical education in Maharashtra.
The signatories to the loan agreement for the Maharashtra Tertiary Care and Medical Education Sector Development Program were Juhi Mukherjee, Joint Secretary, Department of Economic Affairs in the Ministry of Finance, who signed for the Government of India, and Mio Oka, Country Director of ADB's India Resident Mission, who signed for ADB. Dinesh Waghmare, Principal Secretary Medical Education and Drugs Department, Government of Maharashtra, signed the agreement on behalf of the state government.
After signing the loan agreement, Juhi Mukherjee, Joint Secretary, the Department of Economic Affairs in the Ministry of Finance, who signed for the Government of India, stated that key policy reforms supported by the program will help strengthen the state's tertiary health care and medical education and expand these facilities to provide modern medical services in under-served areas in the state.
"ADB's decade-long support to India's health sector development has helped shape this Program to help Maharashtra achieve its vision of providing affordable and accessible tertiary health care to all by 2030 and strengthen a cadre of quality and professional medical practitioners," Mio Oka, Country Director of ADB's India Resident Mission, who signed the agreement for ADB, said.
The loan will help establish four medical colleges attached to tertiary care teaching hospitals incorporating climate- and disaster-resilient, gender-responsive, and socially inclusive features in under-served districts.
It will increase bed capacity in government tertiary care hospitals and hire at least 500 new doctors for four new governmental medical colleges.
It also aims to reduce out-of-pocket expenditure through better availability of quality drugs; support efficient management of assets and their sustainability through a first-of-its-kind policy in the Indian health sector on climate-resilient asset planning, management, and sustainability; and develop healthy competition among medical colleges through the performance management system.
