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

The Platform will make an initial €1.5 billion available to LICs and LMICs in concessional loans and grants to expand the reach and scope of their PHC services, especially for the most vulnerable and underserved populations and communities.

The African Development Bank (AfDB), European Investment Bank (EIB), Islamic Development Bank (IsDB) and WHO are the Platform’s founding members. As this is a global challenge, the Inter-American Development Bank (IDB) 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 prioritise PHC investment plans. The Platform will also aim to catalyse wider PHC investments in support of government health strategies.