The bond aims to reduce mother and baby deaths in Rajasthan
Healthcare development impact bond, which aims to reduce the number of maternal and newborn deaths, was recently launched in Rajasthan. Rajasthan has one of the highest maternal and newborn mortality rates in the country, with 244 maternal deaths per 100,000 births and 47 infant deaths per 1000 live births. The Maternal and Newborn Health DIB, known as the ‘Utkrisht bond’, taken from the Hindi for ‘Excellence,’ will support government efforts to reduce maternal and newborn deaths, which will have access to 440 private healthcare facilities in Rajasthan.
For this impact bond, the upfront funder, UBS Optimus Foundation will provide up to $ 3.5 million initial working capital so service providers can begin their work with private facilities in Rajasthan.
Interventions will be delivered by NGOs Population Services International (PSI) and HLFPPT, which will reach up to 600,000 pregnant women with improved care during delivery and could lead to up to 10,000 maternal and newborn lives being saved over a five-year period. The impact bond was designed by Palladium, who will manage implementation throughout the three-year term.
PSI has adapted its Engage, Launch and Support quality improvement framework and will be implementing this in 14 districts of Rajasthan. HLFPPT will work in 19 districts to support and engage private medical facilities through capacity building, mentoring and ongoing support.
Naveen Jain, Secretary for Rajasthan Ministry of Health and Mission Director of the National Health Mission said, “The Government of Rajasthan is committed towards improving maternal and newborn health and is working with the Government of India towards achieving the SDGs. We see innovative public private partnerships, and the engagement of private capital, as an essential strategy in our toolkit towards this goal. We look forward to working with the Utkrisht bond team and the private health facilities to enhance quality and develop the flexibility and the trust to allow services to be provided outside the public sector. In this way, impact bonds and their emphasis on results will benefit the public sector – and, of course, new mothers and their children.”