World Bank commits $1 bn to India for public healthcare infra

NEW DELHI: The World Bank and India on Friday signed two complementary loans of $500 million each to support and enhance the country’s healthcare infrastructure.

Through this combined financing of $1 billion (about Rs 8,200 crore), the bank will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve the public healthcare infrastructure across the country, the multilateral funding agency said in a statement.

In addition to the national-level interventions, one of the loans will prioritise health service delivery in seven states including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, it said.

The agreement was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and World Bank India country director Auguste Tano Kouam, it said.

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, said Auguste Tano Kouam.

The two projects are supporting India’s decision to increase the resilience and preparedness of the country’s health systems against future pandemics, it said, adding, this will be of great benefit for the population of the states participating in the projects and will generate positive spillovers for other states.

India’s performance in health has improved over time. According to the World Bank estimates, India’s life expectancy at 69.8 in 2020, up from 58 in 1990 is higher than the average for the country’s income level.