Last year, the World Health Organization, African Development Bank, Islamic Development Bank, and European Investment Bank committed to making €1.5 billion ($1.6 billion) available for investments toward strengthening primary health systems in low- and middle-income countries.
The financing will include grants and concessional loans — loans offered at rates that are more favorable than what countries could obtain in the marketplace.
The details are currently being hammered out, but it’s expected that legal documents around how this new platform will operate will be signed in the second quarter of this year.