PUNE: The Pimpri-Chinchwad Municipal Corporation (PCMC) has joined hands with the United Nations Development Programme (UNDP) and signed a Memorandum of Understanding (MoU) in order to create India’s first Social Impact Bond (SIB) in the city.
The officials said that the PCMC aims to transform primary, secondary and tertiary care service delivery and also to maintain the 41 healthcare centre in the city as per national and international standards. The SIB has been designed to bring transformation by strengthening the infrastructure, people skills, processes and technology capabilities.
As per the MoU, UNDP will provide technical assistance to the project and the Palladium Group has been appointed as the design and implementation partner for the SIB. PCMC has also released the Request for Qualification (RFQ) so as to identify potential social investors to get on board for the SIB. The qualified investors will be identified and appointed after thorough evaluation, who will work closely with the implementing partner to execute identified changes.
Mayor Usha Dhore said that the SIB is required for the improvement of healthcare facilities in PCMC region. Through this, the administration will be able to provide quality healthcare facilities in the city. She added that this proposal was taken in the general body meeting in August this year and also sanctioned Rs 100 crore budget for the same. PCMC and UNDP have also planned a road show for national and international philanthropic organisations and for the potential social investors who would be interested in partnering with PCMC.