March 1, 2024
Business Featured Latest News News

World Bank commits $1 billion to India for public healthcare infrastructure

On Friday, the World Bank and India agreed to two complimentary loans totaling USD 500 million each to support and improve the nation’s healthcare system.

The bank will support India’s Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve the public healthcare infrastructure across the nation, through this combined financing of USD 1 billion (roughly Rs 8,200 crore), according to a statement from the multilateral funding organisation.

One of the loans will emphasise the delivery of health services in seven states, including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, in addition to the national-level interventions, it said.
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, and World Bank India Country Director Auguste Tano Kouamé, according to the statement, signed the agreement.

According to Auguste Tano Kouamé, the COVID-19 pandemic served as a strong reminder that pandemic preparedness is a global public benefit and brought to light the critical need for pandemic preparedness and health system improvement globally.

The two projects, it was stated, are supporting India’s decision to strengthen the resilience and readiness of the nation’s health systems against upcoming pandemics, and this will be extremely beneficial for the people of the participating states as well as have a positive knock-on effect for other states.

Over time, India’s performance in terms of health has improved. India’s life expectancy, which rose from 58 in 1990 to 69.8 in 2020, is greater than the global average given the amount of affluence in that nation.

Picture Courtesy: Google/images are subject to copyright


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *