Apollo to get $50-mn loan for small-town hospitalsJune 19th, 2009 - 8:08 pm ICT by IANS
New Delhi, June 19 (IANS) International Finance Corp (IPC), a member of the World Bank group, will provide $50 million as loan to Indian private healthcare major Apollo Hospitals for setting up hospitals in numerous smaller cities across the country.
The company expects to set up 15 new hospitals in the next three years, an initiative that will also create significant employment opportunities for local medical professionals.
“Creating an adequate hospital infrastructure alone will require $34 billion in private investment by 2012 in secondary and tertiary care hospitals, medical colleges, nursing, and hospital management schools,” an IFC statement said.
“Apollo has long been one of IFC’s key strategic clients both in the region and globally, given the scope of its operations and its willingness to invest in smaller cities,” said IFC vice-president Rashad Kaldany.
“The project aligns with our strategy to invest in healthcare, one of India’s largest service industries where the private sector’s involvement is most critical,” IFC said.
Added Apollo Hospitals founder and executive chairman Prathap Reddy: “This project will help us fulfil Apollo’s vision to deliver medical services where they are needed most.”
–Indo-Asian News service
- Gandhinagar solar power project gets IFC help - Sep 22, 2010
- IFC helping Gujarat with solar power project - Sep 21, 2010
- Kerala's health sector gets Rs.2,150 crore investment - Sep 11, 2012
- Appollo plans to set up 50 new hospitals across India - Sep 28, 2010
- Indian healthcare industry poised for rapid growth - Aug 05, 2011
- Apollo Hospitals to Set up 30 telemedicine units in Africa - Sep 13, 2012
- Health tourism to get industry status in Haryana - Jan 04, 2011
- UAE group to bring affordable healthcare to smaller Indian cities - Jul 01, 2010
- Indian-American doctor offers healthcare solutions for India - Aug 13, 2012
- Apollo Hospitals to add 3,000 beds - Sep 09, 2010
- Apollo plans 32 new hospitals in two years - Mar 18, 2010
- Delhi residents seek rollback of service tax on hospitals - Mar 02, 2011
- Apollo to set up 12 new hospitals - Jan 06, 2011
- Public Private Partnership to promote healthcare in India - Dec 02, 2010
- World Bank helps Meghalaya set up hospital - Nov 02, 2010
Tags: 50 million, ank, apollo hospitals, asian news, executive chairman, hospital infrastructure, hospital management, ifc, indo, international finance, management schools, medical colleges, medical professionals, mn loan, private healthcare, private investment, rashad, s vision, tertiary care hospitals, world bank group