PESHAWAR
International Finance Corporation (IFC) Tuesday signed an agreement with the government of Khyber Pakhtunkhwa to help arrange a landmark Public-Private Partnership (PPP) for the construction of a state-of-the-art hospital with up to 500 beds on ring road in provincial capital.
Peshawar’s population has increased by 52 percent over the last two decades. That has increased stress on the city’s healthcare facilities, which have been further exacerbated by the pandemic and an influx of patients from surrounding districts and neighboring Afghanistan.
Under the agreement, IFC, a member of the World Bank Group, will support the government of Khyber Pakhtunkhwa in structuring the PPP transaction. IFC’s team will also assist the government in running a transparent, competitive bidding process to select a private sector developer and operator for the hospital, which will deliver tertiary care.
“This project is a monumental step towards fulfilling KP’s promise of increasing accessibility to quality tertiary healthcare across the province. It will demonstrate the ability of leveraging the Sehat Sahulat card to attract private sector investment in the construction and operation of tertiary care facilities,” said Taimur Khan Jhagra, KP’s Finance and Health Minister.
Peshawar is the sixth largest city in Pakistan with a population of approximately two million and accounts for nearly a third of total hospital admissions in Khyber Pakhtunkhwa. The new PPP complements a $400 million World Bank-sponsored project aimed at strengthening the province’s healthcare system.
“Quality, affordable and accessible healthcare is critical for Pakistan’s economic growth and development,” said Zeeshan Sheikh, IFC Country Manager for Pakistan and Afghanistan.
“Leveraging the private sector’s capital and know-how will help spur development in this key sector, improving the quality of service for patients and providing a financially sustainable model for scaling up investment.”
The project is part of the World Bank Group’s strategy in Pakistan to support private sector development, create markets, and accelerate improvements in public service delivery.
