In a landmark development aimed at investing in and strengthening essential, climate and crisis-resilient primary healthcare (PH) services in low- and middle-income countries, three multilateral development banks (MDBs) have joined with the World Health Organization (WHO) to launch the Health Impact Investment Platform.

The platform, launched during the Summit for a New Global Financing Pact being held in Paris, will make an initial €1.5 billion (US$1.65 billion) available to low- and middle-income in concessional loans and grants to expand the reach and scope of their PH services, especially for the most vulnerable and underserved populations and communities.

The African Development Bank, European Investment Bank (EIB), Islamic Development Bank and WHO are the platform’s founding members. As this is a global challenge, the Inter-American Development Bank is also considering joining this partnership in view to extending this initiative to the Latin America and the Caribbean region.

WHO will act as the platform’s policy coordinator, responsible for ensuring alignment of financing decisions with national health priorities and strategies. The platform’s secretariat will support governments to develop national health and prioritize PH investment plans.

As well, the platform – which builds on experience gained through cooperation between countries, multilateral organizations and development banks proven fruitful during the Covid-91 pandemic – will aim to catalyse wider PH investments in support of government health strategies.

A PH approach, WHO director-general Tedros Adhanom Ghebreyesus says, offers the most effective means to improve health and well-being, including through the delivery of essential health services to all people. It is, he adds, a driver of universal health coverage, one of the United Nations Sustainable Development Goals. World leaders committed in 2015 to achieve access to essential healthcare services and affordable essential medicines and vaccines for all people by 2030.

The partner development banks, EIB president Werner Hoyer shares, are committed to supporting countries to strengthen their primary healthcare services, to both promote the health of their communities and protect against the impacts of future health emergencies.