Multilateral development banks and WHO are launching a new investment platform to strengthen primary health care services

In a significant development aimed at investing in and strengthening climate-resilient and crisis-resilient primary health care (PHC) essential services in low- and low- and middle-income countries (LICs and LMICs), three multilateral development banks have joined WHO to launch a new the Health Impact investment platform.

The platform, launched during the summit for a new global financing pact being held in Paris, will make available an initial €1.5 billion to LICs and LMICs in concessional loans and grants to expand the reach and scale of their PHC services -a, especially for the majority of vulnerable and underserved populations and communities.

The African Development Bank (AfDB), the European Investment Bank (EIB), the Islamic Development Bank (ISDB) and the WHO are founding members of the Platform. As it is a global challenge, the Inter-American Development Bank (IDB) is also considering joining this partnership in order to expand this initiative to the Latin American and Caribbean region.

WHO will act as the Platform’s policy coordinator, responsible for ensuring that funding decisions are aligned with national health priorities and strategies. The Platform Secretariat will support governments in developing national healthcare and prioritizing PHC investment plans. The platform will also aim to catalyze wider investment in PHC in support of government health strategies.

dr. Tedros Adhanom Ghebreyesus, Director-General of the WHO, said that the PHC approach offers the most effective ways to improve health and well-being, including providing basic health services to all people. It is the driving force behind universal health coverage, one of the United Nations’ Sustainable Development Goals (SDGs). World leaders committed in 2015 to achieve access to basic health services and affordable essential medicines and vaccines for all people by 2030.

“About 90% of basic health services can be provided through PHC – in the field, in communities, through health workers, doctors and nurses, in local clinics. The broad range of services provided by PHC can promote health and prevent disease, avoid and delay the need for more expensive secondary and tertiary services, and provide rehabilitation,” said Dr. Tedros. “PHC serves as the ‘eyes and ears’ of the country’s healthcare 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 population health today and in the future.”

EIB President Werner Hoyer said partner development banks are committed to supporting countries to strengthen their primary health care services, to promote the health of their communities and protect against the impact of future health emergencies.

“Covid-19 has shown the great human and economic suffering that can happen when we fail to invest in essential health services,” said Dr. Hoyer. “Collaboration among multilateral development banks through the new Health Impact Investment Platform will ensure that countries in need can better build resilient primary health care services that can withstand the shocks of future health crises and protect communities and economies for the future.” We have already proven this in earlier collaborations with the WHO. The platform will facilitate access to key international financing for the most vulnerable. This is a concrete result of President Macron’s call to increase international financial solidarity with the global south.”

Before the COVID-19 pandemic, the WHO estimated that to achieve the health-related Sustainable Development Goals (SDGs), LICs and LMICs needed to significantly increase their spending on health and require an additional US$371 billion annually together by 2030. This funding would enable population 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 investments of the order of USD 31.1 billion per year. About one third of that total should come from international funding. The Health Impact Investment Platform’s catalytic funding is also designed to promote the mobilization and coordination of wider funding streams through national PHC investment plans.

The new Platform is based on the experience gained through cooperation between countries, multilateral organizations and development banks, which proved to be fruitful during the pandemic. For example, the WHO, the EIB and the European Commission have 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 have mobilized technical assistance, grants and investments with favorable conditions to build 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 countries must prioritize greater investment in health. The Islamic Development Bank (IsDB) is committed to working together to create impactful results and ensure access to quality and affordable primary health care for all.”

“Our collaboration will help guide national governments’ investments in strengthening primary health care and their overall health systems, increasing universal health coverage, and improving their ability to prepare for, prevent, and respond to health emergencies. We will work with countries individually to identify gaps in national health systems, design interventions and investment strategies, find funds, implement projects and monitor their performance,” said African Development Bank Group President Dr. Akinwumi A. Adesina.

Ilan Goldfajn, president of the Inter-American Development Bank, said: “Good health and well-being are common goals that bind the world together. To achieve these goals, countries and institutions must work together. We are convinced that cooperation – not only between nations, but also between governments and 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 across Latin America and the Caribbean. We extend an open 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 consists of three different 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 an external office in Japan, the AfDB contributes to the economic development and social progress of its 54 regional member states. https://www.afdb.org/en

About the European Investment Bank
The European Investment Bank (EIB) is a long-term credit institution of the European Union owned by its member states. It finances sound investments that contribute to EU policy objectives. EIB activities are focused 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 a total of more than €42 billion in financing for health-related projects worldwide 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. Founded 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 across the region. Take our virtual tour.

About the Islamic Development Bank Group
Rated AAA by major rating agencies, the Islamic Development Bank (IsDB) is a multilateral development bank that has been working to improve the lives of the communities it serves for more than 49 years with high impact. The bank brings together 57 member countries on four continents, touching the lives of 1 in 5 of the world’s population. Its mission is to empower people to drive their own economic and social progress at scale, putting in place the infrastructure that enables them to fulfill 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 evolved from a single entity into a group consisting 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), Islamic Private Sector Development Corporation (ICD) and International Islamic Trade Finance Corporation (ITFC). https://www.isdb.org/

About the World Health Organization

Committed to the well-being of all people and guided by science, the World Health Organization leads and supports global efforts to give everyone, everywhere, an equal opportunity to live a safe and healthy life. We are the UN health agency that connects nations, partners and people on the front lines in more than 150 locations – leading the world’s response to health emergencies, preventing disease, addressing the root causes of health problems and expanding access to medicines and health care. Our mission is to promote health, keep the world safe and serve the vulnerable. www.who.int