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World Bank commits $1 bn to India
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, and World Bank India country director Auguste Tano Kouamé during signing of 2 complimentary loans worth $1 billion
The World Bank and India on Friday signed two complementary loans of USD 500 million each to support and enhance the country’s healthcare infrastructure.
New Delhi: The World Bank and India on Friday signed two complementary loans of USD 500 million each to support and enhance the country's healthcare infrastructure.
Through this combined financing of USD 1 billion (about ₹8,200 crore), the World 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 prioritize 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 Kouamé, 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 Kouamé.
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.
