World Bank commits $1 Billion to enhance India’s healthcare infrastructure. Check details

The World Bank and India on Friday signed two complementary loans of USD 500 million each to support and enhance India’s healthcare infrastructure.

The multilateral funding agency said that the combined financing will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021.

The World Bank further confirmed that one of the loans will prioritize health service delivery in seven states including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu and Uttar Pradesh.

Notably, the agreement was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and World Bank India country director Auguste Tano Kouame.

Mr. Kouame stated that 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.

He stated that the two projects are supporting India’s decision to increase the resilience and prepare the country’s health systems against future pandemics.

“The population of the states which are participating in the projects will be of great benefits, and will generate positive spillovers for other states,” Mr. Kouame added.

According to the World Bank estimates, India’s life expectancy – at 69.8 in 2020, up from 58 in 1990 0 is higher than the average for the country’s income level.