Asian Development Bank (ADB) Loan to Maharashtra

Context:

• The Asian Development Bank (ADB) has approved a $500 million loan to enhance the quality and affordability of tertiary health care and medical education in Maharashtra. 

ADB Grants $500 Million Loan for Healthcare and Medical Education in Maharashtra

• Asian Development Bank (ADB)  has been working with the Maharashtra government to 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.

The Maharashtra Tertiary Care and Medical Education Sector Development Programme:

• Capacity Augmentation: The programme plans to augment bed capacity in state hospitals and recruit at least 500 doctors for these new institutions.
• Policy reforms: The programme will initiate reforms to bolster tertiary healthcare services and expand medical education, particularly in underserved regions.
• Policy Support: ADB’s Programme will foster a conducive policy environment for attracting and retaining medical professionals through performance incentives, a new talent management policy, and the creation of India’s inaugural state-led centers of excellence in healthcare and medical education.
• New Medical colleges: The Programme aims to construct four new medical colleges with tertiary care hospitals, which will include features that are resilient to climate and disasters, gender-sensitive, and socially inclusive. 
• Low cost healthcare: It seeks to lessen the financial burden on patients by improving access to quality drugs, and introducing a performance management system to drive competition among medical colleges.

About Asian Development Bank (ADB):

• About: It is a multilateral development bank, which seeks to help its developing member countries to reduce poverty and improve their people’s quality of life.
• Membership: From 31 members at its establishment in 1966, the Asian Development Bank has grown to encompass 68 members—of which 49 are from within Asia and the Pacific and 19 outside.
  • India became the member in 1966.
• Membership Criteria:  It is open to members and associate members of the United Nations Economic Commission for Asia and the Far East. 
  • It’s also open to other regional countries and non-regional developed countries that are members of the U.N. or of any of its specialized agencies. 
  • Although the majority of the Bank’s members are from the Asia-Pacific region, the industrialized nations are also well-
• Shareholders: As of 31st December 2019, ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
• It is headquartered in Manila, Philippines.

News source: Live Mint

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