Hyderabad: In a move that could change the nature of developmental funding in the world, the US Agency for International Development (USAID) has announced the launch of ‘Rajasthan Development Impact Bond’, which taps private investment for developmental purposes.
Addressing a press meet, USAID administrator Mark Green said countries earlier used to be “given aid or grant for developmental purposes. It was more in the nature of contracting. However, with the new bond we will be moving from contracting to collaborative approach.”
The money to be raised is $2.5 million. He, however, said more money could be raised for other developmental purposes, if required. Under this scheme, he said “private capital will front the cost to improve the quality of health services in private health facilities in Rajasthan.”
