PCMC To Set Up India’s First ‘Social Impact Bond’ For Health Services

Rajesh Patil PCMC Commisionor
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Pimpri-Chinchwad, February 18, 2021: Pimpri-Chinchwad Municipal Corporation (PCMC) is going to set up a ‘social impact bond’ (SIB) to have a positive impact on public health services.

“The PCMC and the United Nations Development Programme (UNDP) have started discussions on the design and implementation of India’s first social impact bond’,” informed PCMC Commissioner Rajesh Patil.

The UNDP is a leading multitiered development organization within the United Nations and its key focus is the empowerment of health centres.

Pimpri-Chinchwad Municipal Corporation is in the process of converting Primary Health Centers (PHCs) into preventive care centres under the Central government’sLifelong India’ scheme’. Some hospitals are being converted into specialized treatment centres for non-communicable diseases (NCDs).

The civic body will invest in the establishment of systems, procedures, and standardization of protocols for improving the infrastructure and enhancing the efficiency capacity of health services for the improved level of health services available to the citizens.

“The ‘social impact bond’ approach is being considered to have a positive impact on public healthcare services. It is an outcome-oriented financing and implementation approach where investors are paid after getting the right result. This model of investment enables innovative approaches and optimization management where a systemic change requires interconnected intervention,” informed Commissioner Patil.