Islamic bank grants $10M to WHO for health care, climate solutions

ISTANBUL

The Islamic Development Bank (IsDB) is financing $10 million to the World Health Organization (WHO) for the Health Impact Investment Platform, according to a joint statement by the bank and the WHO on Tuesday.

The financing was signed at the 2024 UN Climate Change Conference COP29 in Baku, Azerbaijan, which started on Monday.

The WHO said the Health Impact Investment Platform is a collaboration opportunity for multilateral development banks like the IsDB and the organization to find solutions for low- and middle-income countries in health care and climate-related issues.

The countries in phase one of the platform are Burundi, the Central African Republic, Comoros, Djibouti, Egypt, Ethiopia, Guinea Bissau, Jordan, Maldives, Morocco, Senegal, South Sudan, Gambia, Tunisia, and Zambia, according to the WHO.

The WHO aims to reinforce resilience against the climate crisis by developing plans across the region included in the Health Impact Investment Platform to combat climate change, and make some “10,000 health facilities fully functional, including with solar electrification.”

The organization stated that the IsDB’s financing is estimated to unlock at least $500 million in health investments, and the goal is to raise a total of $1.5 billion in concessional loans and financing to “address national health priorities.”

“The Islamic Development Bank is proud to support the Health Impact Investment Platform as part of our unwavering commitment to advancing universal health coverage and resilience in our Member Countries,” said IsDB President Muhammad Al Jasser.

“These Multilateral Development Banks and WHO partnerships enable us to scale up primary health care where it is needed most, creating a stronger foundation to withstand future crises and addressing the pressing health challenges of today.”