Three multilateral development banks, along with the World Health Organization (WHO), have launched a new health impact investing platform to invest in and strengthen crisis-resilient, climate-resilient, and essential primary healthcare (PHC) services in low- and middle-income countries. The African Development Bank (AfDB), the European Investment Bank (EIB), the Islamic Development Bank (IDB), and the WHO are the founding members of the platform.
The Platform, launched at the Summit for a New Global Financing Deal in Paris, aims to expand the reach of PHC services and prioritize underserved populations and communities. It will provide an initial amount of €1.5 billion in conditional loans and grants to low- and low-middle-income countries.
The Platform will be coordinated by WHO, responsible for aligning financial decisions with national health priorities and strategies. It will support governments in developing national health investment plans and prioritizing PHC. Additionally, the Platform will encourage broader investments in PHC to support government health strategies.
According to Dr. Tedros Adhanom Ghebreyesus, WHO Director-General, a PHC approach is the most effective means of improving health and well-being, and it is a driver of universal health coverage. The Platform will strengthen the development of PHC services and serve as an investment in the health of populations.
The President of the EIB, Werner Hoyer, emphasized the commitment of partner development banks to help countries strengthen their primary healthcare services to promote community health and protect against future health emergencies.
Prior to the COVID-19 pandemic, WHO estimated that low- and middle-income countries would need an additional $371 billion per year by 2030 to achieve the health-related Sustainable Development Goals. The new Platform draws upon the experience gained during the pandemic, where collaboration between countries, multilateral organizations, and development banks proved successful in strengthening PHC.
The Platform aims to mobilize international financing and coordinate with national PHC investment plans to promote universal health coverage and better prepare for future health emergencies. Stakeholders are also invited to join the investment platform to contribute to global health objectives.
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In a landmark development to invest in and strengthen crisis-resilient, climate-resilient and essential primary health care (PHC) services in low-, middle- and low-income countries (LICs and LMICs), three multilateral development banks have joined with WHO to launch new health impact investing platform.
The Platform, launched at the Summit for a New Global Financing Deal in Paris, will make available to low- and low-middle-income countries an initial amount of €1.5 billion in conditional loans and grants. concessionaires to expand the reach and reach of their PHC services, especially for the most vulnerable and underserved populations and communities.
The African Development Bank (AfDB), the European Investment Bank (EIB), the Islamic Development Bank (IDB) and the WHO are the founding members of the Platform. As this is a global challenge, the Inter-American Development Bank (IDB) is also considering joining this alliance with a view to extending this initiative to the Latin American and Caribbean region.
WHO will act as the Platform’s policy coordinator, responsible for ensuring the alignment of financial decisions with national health priorities and strategies. The Secretariat of the Platform will support governments to develop national health investment plans and prioritize PHC. The Platform will also aim to catalyze broader PHC investments in support of government health strategies.
Dr Tedros Adhanom Ghebreyesus, WHO Director-General, said that a PHC approach offers the most effective means of improving health and well-being, including through the provision of essential health services for all people. It is a driver of universal health coverage, one of the United Nations Sustainable Development Goals (SDGs). World leaders committed in 2015 to achieve access to essential health care services and affordable essential medicines and vaccines for all by 2030.
“About 90% of essential health services can be delivered through PHC: on the ground, in communities, through health professionals, doctors and nurses, in local clinics. The broad spectrum of services that PHC provides can promote health and prevent disease, avoid and delay the need for more expensive secondary and tertiary services, and provide rehabilitation,” said Dr. Tedros. “APS serves as the ‘eyes and ears’ of a country’s health system, reaching out to the very communities where people live. The new Health Impact Investment Platform will strengthen the development of such services, serving as an invaluable investment in the health of populations today and in the future.”
EIB President Werner Hoyer said partner development banks were committed to helping countries strengthen their primary health care services, both to promote the health of their communities and to protect them against the impacts of future health emergencies. health.
“COVID-19 demonstrated the great human and economic suffering that can occur when we do not invest in essential health services,” said Dr. Hoyer. “Cooperation between multilateral development banks through the new Health Impact Investing Platform will ensure that countries in need are better able to build resilient primary health care services that can withstand the impacts of future health crises. and safeguard communities and economies for the future. We have already demonstrated this in previous collaborations with the WHO. The platform will facilitate access to crucial international financing for the most vulnerable. It is a concrete result of President Macron’s call to increase international financial solidarity with the Global South.”
Prior to the COVID-19 pandemic, WHO estimated that to achieve the health-related Sustainable Development Goals (SDGs), low- and middle-income countries needed to significantly increase their spending on health, requiring $371 billion. additional US dollars per year combined by 2030. This funding would enable populations to access health services, contribute to the construction of new facilities, and train and place health workers where they need to be. It has also been estimated that preparing for future pandemics will require an investment of the order of US$31.1 billion per year. Approximately a third of that total would have to come from international financing. Catalytic financing from the Health Impact Investment Platform is also designed to promote the mobilization and coordination of broader financing streams through national PHC investment plans.
The new Platform is based on the experience gained through cooperation between countries, multilateral organizations and development banks that proved fruitful during the pandemic. For example, the WHO, the EIB and the European Commission worked closely with Angola, Ethiopia and Rwanda to strengthen their health systems. Initially launched as stand-alone programs or as part of countries’ responses to COVID-19, these interventions mobilized technical assistance, grants, and concessional investments to strengthen primary health care.
Muhammad Al Jasser, President of the Islamic Development Bank, said: “To achieve universal health coverage by 2030, development finance institutions (DFIs) and nations must prioritize investing more in health. The Islamic Development Bank (IsDB) is committed to working collaboratively to deliver impactful results and ensure access to quality, affordable primary health care for all.”
“Our cooperation will help guide the investments of national governments to strengthen primary health care and their health systems in general, increase universal health coverage and improve their capacity to prepare for, prevent and respond to health emergencies. We will work with individual countries to identify gaps in national health systems, design interventions and investment strategies, find financing, implement projects and monitor their impact,” said African Development Bank Group President Dr. Akinwumi A. adesin.
Ilan Goldfajn, President of the Inter-American Development Bank, said: “Good health and well-being are common objectives that unite the world. To achieve these objectives, countries and institutions must collaborate. We are convinced that cooperation, not only between nations, but also between governments and the private sector, is critical to achieving universal health coverage Recognizing the global nature of this investment platform, we are already in discussions with other stakeholders to expand these efforts in Latin America and the Caribbean. invitation to our partners to join this global investment platform”.
Note to editors
About the African Development Bank Group
The African Development Bank Group (AfDB) is Africa’s leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigerian Trust Fund (NTF). On the ground in 37 African countries with a field office in Japan, the AfDB contributes to the economic development and social progress of its 54 regional member states. https://www.afdb.org/es
About the European Investment Bank
The European Investment Bank (EIB) is the European Union’s long-term lending institution owned by its Member States. It finances sound investments that contribute to the EU’s political objectives. The EIB’s activities focus on the following priority areas: climate and environment, development, innovation and skills, small and medium-sized enterprises, infrastructure and cohesion. The EIB works closely with other institutions and has provided total financing of more than €42 billion for healthcare-related projects around the world since it began investing in the sector in 1997. https://www.eib.org/
About the Inter-American Development Bank
The Inter-American Development Bank is dedicated to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region. Take our virtual tour.
About the Islamic Development Bank Group
Rated AAA by major ratings agencies, the Islamic Development Bank (IsDB) is a multilateral development bank that has been working for more than 49 years to improve the lives of the communities it serves by delivering impact at scale. The Bank brings together 57 member countries on four continents, affecting the lives of 1 in 5 of the world’s population. Its mission is to equip people to drive their own economic and social progress on a large scale, establishing the infrastructure that allows them to reach their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has regional hubs and centers of excellence in 11 of its member countries. Over the years, the Bank has grown from a single entity to a group made up of five entities: the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) in charge of research and training , the Islamic Investment Insurance and Export Credit Corporation (ICIEC), the Islamic Private Sector Development Corporation (ICD) and the International Islamic Trade Finance Corporation (ITFC). https://www.isdb.org/
About the World Health Organization
Dedicated to the well-being of all people and guided by science, the World Health Organization leads and champions global efforts to give everyone, everywhere the same chance for a safe and healthy life. We are the UN health agency connecting nations, partners and people on the front lines in more than 150 locations, leading the global response to health emergencies, preventing disease, addressing the root causes of health problems and expanding access. to medicines and medical care. Our mission is to promote health, keep the world safe, and serve the vulnerable. www.who.int
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