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World Bank arm grants $50 mn loan to Apollo Hospitals

World Bank arm grants $50 mn loan to Apollo Hospitals
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First Published: Fri, Jun 19 2009. 08 45 PM IST
Updated: Fri, Jun 19 2009. 08 45 PM IST
The International Finance Corporation, or IFC, a World Bank entity, has granted a $50 million (Rs241.2 crore) loan to Hyderabad-based Apollo Hospitals Enterprise Ltd for expanding its network of Reach Hospitals. The chain is designed specifically for under-developed population centers. A statement from Apollo Hospitals on Friday said it plans to set up 15 new hospitals over the next three years. IFC vice president Rashad Kaldany said in the same statement that the project aligns with IFC’s strategy to invest in health care, one of India’s largest service industries where the private sector’s involvement is most critical.
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First Published: Fri, Jun 19 2009. 08 45 PM IST