World Bank Approves $1 Billion loans to Support India’s Health Sector.
Banking & Finance
The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India’s health sector. Through this combined financing of $1 billion, 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. This loan will be prioritized for seven states including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh. India’s performance in health has improved over time. According to 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. Under health, two loans– Public Health Systems for Pandemic Preparedness Programme (PHSPP) and Enhanced Health Service Delivery Programme (EHSDP) — are designed to be complementary and transformational in impact.
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