World Bank okays $1 billion loan to support, enhance India's health sector
New Delhi, March 5: In order to support and advance the development of India's health sector, the government of India and the World Bank signed two complementary loans totalling USD 500 million each.
According to a World Bank release, this combined financing of USD 1 billion will support India's flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), which was launched in October 2021 to improve the country's public healthcare infrastructure. According to the release, one of the loans will prioritise health service delivery in seven states, including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, in addition to national-level interventions.
The agreement was signed on behalf of the Government of India by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Auguste Tano Kouame, Country Director, India, World Bank.
"The COVID-19 pandemic brought to the fore the urgent need for pandemic preparedness and health system strengthening around the world and was a stark reminder that pandemic preparedness is a global public good," Auguste Tano Kouame stated.
"The two Projects are supporting India's decision to increase the resilience and preparedness of the country's health systems against future pandemics. This will be of great benefit for the populations of the states participating in the projects and will generate positive spillovers for other states."
India's health performance has improved over time. According to World Bank estimates, India's life expectancy is higher than the average for the country's income level, at 69.8 in 2020, up from 58 in 1990.
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- ANI
