New high-level support for universal health coverage

World Bank President Jim Kim convened an impressive panel on the sidelines of the bank’s spring meetings on Friday to lend their voices to the growing chorus of support for a global goal for universal health coverage by 2030. United Nations Secretary-General Ban Ki-moon, former New York mayor Michael Bloomberg and Nigerian finance minister Ngozi Okonjo-Iweala were among those who, on Friday, discussed the importance of including a universal health coverage goal in the global development framework that is currently being drafted by world leaders. Larry Summers, the former president of Harvard and an economic advisor to U.S. President Barack Obama, was perhaps the most unlikely member of the group. But his presence underscored a central message of the gathering: that investments in health care pay off big time for economies, developed or developing. His message for finance ministers around the world was that the argument for universal health coverage is firmly rooted in economics, and that it is more affordable and more effective than they may think. A report from the Lancet Commission on Investing in Health, which Summers co-authored, found that 24 percent of growth in developing countries between 2000 and 2011 was attributable to improved health. By that rate, every dollar invested in health over the next 20 years would return between $9 and $20 through economic growth. In fact, Summers’ love of health care economics is not new at all. He was one of the lead authors of the 1993 World Development Report on health investments that inspired no less than Bill Gates to get involved in public health. For the most comprehensive coverage of the World Bank’s spring meetings, check out daily updates via Storify, and be sure to follow Devex on Twitter and Facebook. You may tweet questions and comments to our reporters Paul Stephens @pauldstephens, Michael Igoe @twigoe, Rolf Rosenkranz @devexrolf and Adva Saldinger @deveximpact. See more: Who will lead the data revolution? World Bank procurement reform to rationalize prior review of contracts Can the World Bank promote more open governance? Jim Kim: Addressing inequality, investing in people critical to sustainable growth CSOs seek culture change at IFC From around the web: Jim Kim hosts first-ever meeting with LGBT leaders IMF, World Bank leaders engage finance ministers to tackle climate change World Bank hones poverty strategy as meetings wrap