World Bank To Loan USD 1B To Indian Government For Healthcare Development
The Government of India and the World Bank signed two complementary loans of USD 500 million each to support and enhance the development of India's health sector.
According to a World Bank release on March 3, this combined financing of USD 1 billion will support India's flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), which will be 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 highlighted the critical need for global pandemic preparedness and health system strengthening, and served as a stark reminder that pandemic preparedness is a global public good," said Auguste Tano Kouame.
"The two projects are supporting India's decision to strengthen the country's health systems' resilience and preparedness for future pandemics. This will benefit the populations of the states participating in the projects and will have a positive spillover effect on other states "Kouame elaborated.
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.