Financial Daily from THE HINDU group of publications
Thursday, Dec 19, 2002
Financial Daily from THE HINDU group of publications Thursday, Dec 19, 2002 |
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Announcements Max institute gets ADB's healthcare loan Our Bureau
NEW DELHI, Dec. 18 MAX Healthcare Institute Ltd has been sanctioned the first ever private sector healthcare loan of $20 million, approximately Rs 98 crore, by Asian Development Bank (ADB). This loan will support Max Healthcare's plans to create an integrated healthcare-delivery system. In a communiqué, issued here, Max Healthcare said that it had already been given approval for a long-term Rs 50 crore loan by Canara Bank. The financial closure of Max Healthcare's Rs 420-crore project is expected to happen shortly. Max's medical network, yet to be established will include up to 16 neighbourhood primary clinics; five secondary medical centres, each serving a population of about 2.5 million; and two tertiary hospitals. "This is a landmark project because it is ADB's first local currency loan in India and also our first private sector infrastructure project in the country for six years. We support the use of local currency debt for projects that have revenues largely in local currency to avoid currency mismatches," said Mr Robert Bestani, Director-General of ADB's Private Sector Operations Department.
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