World Bank group member International Finance Corporation has said it will invest INR 55 crore (USD 14 million) in Delhi-based Rockland Hospitals to support its expansion plans. Rockland Hospitals plans to expand its facility in the national capital and set up a 250-bed hospital in Manesar, Haryana. “IFC will provide 10 million dollars through equity investments and another 4 million dollars in convertible preferred shares to Rockland Hospital,” IFC said in a statement. The project will help broaden access to high-quality health care and good administrative and patient care to common people, it added. “This project demonstrates IFC’s commitment to social sector development. It also aligns with our strategy to invest in health care, one of India’s largest service industries where the private sector’s involvement is most critical,” IFC Director for Health and Education Guy Ellena said in a statement. IFC, a member of the World Bank Group fosters sustainable economic growth in developing countries by financing private sector investments.

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