Project: Strengthening of Healthcare Facilities at PCMC through Social Impact Bond
State of development: Current
Stage of development: Late stage
Type of instrument — Impact Bond: Yes; Outcomes Fund: No; Social Impact Incentives (SIINC): No; Social Impact Guarantee: No; Payment-by-results (no pre-financing): No; Technical Assistance and Market-building program: No; Other: 
Part of a larger outcomes-based financing program: No 
Expected launch date: Q3 - 2022
Total expected project development time: 12-24 months
Expected length of project (years): 3
Project design process began: Q1-2021
Rationale for using outcome-based finance: Create sustained improvements in quality and efficiency of service delivery by shifting focus from outputs to outcomes
Key challenges to launch: As the first-of-its-kind SIB managed by a Municipal authority in India, a key challenge has been aligning the SIB design process with government procurement processes
Role of the domestic government — Outcomes funder: Yes; Service provider: No; Member of project committee: No; No formal role: No; Other: 
Service providers identified and selected — Request-for-proposals: No; Direct contracting by outcome funder/investor/intermediary: Yes; Provider-led deal development: Yes; Other: 
Feasibility study: Yes
Proposed financing instruments — Debt: No; Equity: No; Guarantee: No; Grant: No; Other: TBD
Technical assistance grant: Yes — UNDP provided Technical Assistance to Palladium to design the project
Estimated maximum potential outcome payment: 13000000 INR
Overall project finance notes: INR 1000 million = Approx US $ 13 million
Social/developmental challenge: Improve the quality of healthcare facilities in PCMC
Expected intervention model: Overall strengthening of all PCMC healthcare facilities, strengthening of the Secondary Care Hospitals
Policy sectors — Employment and private sector development: No; Education: No; Social protection: No; Criminal justice: No; Health: Yes; Agriculture: No; Environment and climate change: No; Water, Sanitation and Hygiene: No; Energy: No; Humanitarian: No; Early Childhood Education: ; Other: 
Secondary SDG goals: 3
Target population: Beneficiaries of health facilities
Targeted number of unique service users or beneficiaries: 2500000
Unit type of targeted beneficiaries: Individual
Country income classification of beneficiaries — Low-income: No; Lower-middle-income: Yes; Upper-middle-income: No; High-income: No
Beneficiary notes: 2 million outpatients in 28 dispensaries, 12 secondary care hospitals and one tertiary hospital
Notes: Data for this pipeline projects was last updated in April 2022.
Delivery location: Pune, Pimpri Chinchwad Municipal, India