Ajay Banga, President of the World Bank, featured in ET HealthWorld

World Bank President Ajay Banga emphasized the need for tailored financing, knowledge, and partnerships in healthcare to make it accessible and affordable for all. During a Fireside Chat with the Director-General of the World Health Organization, Dr Tedros Adhanom Ghebreyesu, Banga highlighted the importance of increased financing post-COVID, along with the necessity of country-specific knowledge and partnerships in the healthcare sector.

Banga stressed the significance of ensuring adequate financing for healthcare, tailored to each country’s stage of development. He cited an example of the long-term economic impact on children who do not receive proper nutrition in their first 1,000 days. With approximately two billion people lacking access to healthcare that is affordable and results in out-of-pocket expenses, Banga underlined the role of healthcare in breaking the cycle of poverty.

Meanwhile, Dr Tedros discussed the global progress towards Universal Health Coverage, noting that 140 countries have recognized health as a fundamental human right. Despite improvements in life expectancy, there is a serious need to accelerate efforts to achieve Sustainable Development Goals (SDGs) related to healthcare.

The World Bank announced a plan to support countries in providing quality, affordable health services to 1.5 billion people by 2030. The strategy involves expanding healthcare coverage across all age groups, including non-communicable diseases, reaching underserved areas, and reducing financial barriers to healthcare. Collaboration with public and private sector partners is essential to achieving this ambitious goal and addressing the challenges posed by factors like climate change and healthcare workforce shortages.