Ankura Women and Children Hospitals Expansion Project (ADB-58128-001)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 16, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Ankura Medical & Research Centre Private Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS May 13, 2025

Disclosed by Bank Dec 16, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a senior secured non-convertible debentures (NCD) facility of up to $20,000,000 (or its rupees equivalent) Indian Rupees (INR) 1,650 million ($20 million) from ADB's ordinary capital resources to Ankura Medical & Research Center Private Limited (Ankura).

The project involves (i) expanding AMPL's network by adding five (5) new hospitals with an aggregate capacity of 500 beds; (ii) upgrading AMPL's existing hospitals by refurbishing them and adding 20 additional beds, medical equipment, and services; (iii) funding the working capital requirement in existing and new hospitals; (iv) installing rooftop solar power systems at some hospitals; (v) strengthening AMPL's training capacity and high-quality clinical operations across its hospitals, and (vi) reimbursing capital expenditure incurred on the project that is funded through bridge financing, share-holder loans, or internal accruals, from 1 April 2024 onwards.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental Aspects: The E&S due diligence (ESDD) did not find potential significant adverse, irreversible, unprecedented, and diverse environmental, health and safety impacts. This Program is categorized as “B” for Environment safeguards.

Involuntary Resettlement: The project is not expected to entail any involuntary resettlement impacts. AMPL operates on an asset-light model where it leases an existing building from private owners and refurbishes it for hospital operations. For new hospitals that have yet to be identified, AMPL will focus on renovation of pre-existing facilities and will not require additional land.

Indigenous Peoples: The project is category C for Indigenous Peoples as the ESCA confirmed that no project activities will affect distinct and vulnerable ethnic groups.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Loan (Ordinary capital resources): USD 20.00 million

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Established in 2011, Ankura Medical & Research Centre Private Limited (AMPL) is a private company that operates hospitals specializing in women’s, newborn, and children’s health. AMPL currently runs a network of 15 hospitals with 1,225 beds across the geographically contiguous states of Andhra Pradesh, Telangana, Odisha and Maharashtra.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Ankura Medical & Research Centre Private Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works