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World Bank Group has announced a healthcare initiative.

Health: World Bank Group To Ensure 1.5 Billion People Have Quality Healthcare

The World Bank Group has unveiled a new initiative that is aimed at ensuring that quality and affordable health services reach no fewer than 1.5 billion people by 2030.

This initiative is part of a larger global endeavour targeted at guaranteeing a basic standard of care across all stages of life, from infancy through adulthood.

With a rich history of supporting health services for women and children across more than 100 countries, the World Bank Group is now accelerating its efforts to achieve greater scale and impact through enhanced collaboration with partners and increased engagement with the private sector.

The strategy to reach 1.5 billion people revolves around three key pillars:

Expanded Coverage: Shifting focus from maternal and child health to encompassing health coverage throughout an individual’s entire lifespan, including addressing non-communicable diseases.
Accessibility in Remote Areas: Extending operations to reach remote and underserved regions, spanning from isolated villages to bustling urban centers and entire countries.
Financial inclusion: Working alongside governments to eliminate unnecessary fees and financial barriers to accessing healthcare services, thereby ensuring affordability for all.

Ajay Banga, President of the World Bank Group, emphasized the collaborative nature of the endeavor, highlighting the essential role of partnerships between the public and private sectors in expanding access to healthcare services.

Despite significant progress in global health, around 2 billion people continue to face substantial financial burdens when seeking medical care.

This is compounded by challenges such as climate change, pandemics, conflicts, societal aging, and projected shortages of healthcare workers, these obstacles perpetuate cycles of poverty and inequality.

In order to address these complex challenges, the World Bank Group will leverage its financing capabilities, knowledge resources, and strategic partnerships.

Tailored financing mechanisms, including International Development Association (IDA) financing for the most vulnerable countries and International Bank for Reconstruction and Development (IBRD) financing for middle-income nations will be deployed based on each country’s specific needs and developmental stage.

Moreover, fostering regulatory certainty and strengthening governance is expected to attract private sector investments, particularly in local production of essential medications and protective equipment.

As it recognizes the indispensable role of partnerships, the World Bank Group has stated that it is committed to collaborating closely with non-governmental organizations, the private sector, and civil society to accelerate progress towards universal health coverage.