AIIB’s inaugural Health Strategy, its first strategy in social infrastructure, underscores the Bank’s commitment to social development and inclusion, furthering its mission of financing Infrastructure for Tomorrow.” The strategy lays a clear direction for AIIB to comprehensively address health challenges faced by its Members and contribute to better health and economic outcomes in Asia and beyond.
In line with AIIB’s infrastructure focus, the health strategy adopts a holistic view of health, infrastructure, and economic development. It addresses how different types of infrastructure can improve the health and wellbeing of people across Asia. This broad focus will be innovative for global health, leveraging synergies across multiple sectors.
The strategic direction considered viewpoints from a diverse set of external stakeholders. An external reference group consisting of eminent global health experts provided extensive technical inputs. Wide-ranging discussions were held with the World Health Organization (WHO). The strategy development process further benefitted from a broad consultation process involving civil society organizations, academia, international organizations and peer multilateral development banks.
The health strategy was informed by the lessons learned in responding to a global health emergency. The COVID-19 pandemic exposed the fragility and inequities of health systems across Asia and highlighted the need for further investments in health system strengthening and global health security. In the face of climate change, the threat of pandemics including anti-microbial resistance, demographic change, and persistent inequalities, AIIB Members are facing growing headwinds to improving the health of their populations. The health strategy sets out how AIIB can add value by providing financing to Members to address these challenges.
AIIB aims to leverage its expertise in infrastructure financing to support better health outcomes for all. Positive health impacts can be generated from infrastructure investments in other sectors, such as infrastructure to support climate adaptation and active lifestyles. To support infrastructure for health, AIIB will seek to maximize the health co-benefits across all its infrastructure financing. The strategy addresses how different types of infrastructure can improve the health and wellbeing of people across Asia.
AIIB’s health strategy provides the framework to guide the Bank’s investments in health. It supports AIIB’s mandate and Corporate Strategy, is consistent with the Sustainable Development Goals, and aligns with global commitments to improve Universal Health Coverage and primary healthcare. The goal is to improve resilience, inclusivity, effectiveness, and efficiency of health systems.
The strategy outlines five principles to guide the design and implementation of “Tomorrow’s Infrastructure for Health”:
- Synergistic: Investments in clean energy, green transport, water supply and sanitation, urban, digital and other infrastructure projects can generate health co-benefits. AIIB aims to maximize these benefits in its investments.
- Equitable and People-Centered: Health services should be accessible to all, especially marginalized communities. AIIB will prioritize projects that improve health equity, adopt people-centered approaches, and promote gender equality.
- Innovative: Embracing technology and innovation is crucial for modernizing health infrastructure. AIIB supports the adoption of innovative technologies and financing models, while carefully considering risks and effects on equity.
- Sustainable: AIIB is committed to sustainability. Health infrastructure must be financially viable, socially equitable, and environmentally sustainable. Proper maintenance is essential for long-term sustainability and thus will be emphasized.
- Collaborative: AIIB recognizes the importance of building strong partnerships to achieve positive health outcomes. Collaboration with other multilateral development banks, health organizations, and the private sector is key.
The health strategy identifies six strategic priorities to achieve maximum impact.
Figure: AIIB Health Strategy Strategic Priorities
Source: AIIB
- Pursuing Health Benefits Across Infrastructure Sectors: This strategic priority covers infrastructure projects outside the health sector and will leverage investments in sectors like energy, transport, and water to maximize health co-benefits. Project examples include water, sanitation and hygiene improvement in informal settlements, health screening and quarantine infrastructure at border crossings, and logistics infrastructure for emergency food distribution following severe climate events. In Bangladesh, health co-benefits are maximized in a water sector project through the inclusion of a household latrines and handwashing stations construction component.
- Enhancing Infrastructure for the Health Services Value Chain: Initiatives such as strengthening primary healthcare and other critical health infrastructure across the health value chain to support Universal Health Coverage. These include construction of new or upgrading of existing health facilities, localization/regionalization of health products manufacturing, and expanding infrastructure for training human resources in health. For example, AIIB has partnered with other multilateral development banks to support the Government of Indonesia in a project to improve infrastructure and medical equipment availability in primary healthcare facilities and referral hospitals.
- Safeguarding Health Security Amid Increasing Connectivity: Enhancing pandemic prevention, preparedness, and response through improved health security infrastructure. These include infrastructure for health surveillance (for both human and animal health), upgrade of laboratories, and livestock hygiene improvement. The Cambodia Cross-Border Livestock Health and Value-chain Infrastructure Improvement project allows AIIB to finance infrastructure improvements which could reduce the risk of spillover infection.
- Green and Climate-Resilient Health Systems: Reducing the environmental impact of health systems and improving their resilience to climate change. This priority works to reduce the greenhouse gas emissions from the health sector and promotes sustainable waste management infrastructure. Additionally, it aims to support adaptation measures to ensure the healthcare delivery system can continue to function in the face of extreme weather events.
- Improving Health Through Technology-Based Solutions: Support the adoption of modern medical devices and utilizing digital health technologies to enhance service delivery. Potential projects include upgrade of health facilities and laboratories with modern medical devices, and adoption of telemedicine, electronic medical records, and health facility management information systems.
- Mobilizing Finance for Health: Encouraging private sector investment in health infrastructure through innovative financing models. These could be public-private partnerships, asset recycling or monetization structures such as health asset trusts, and health-related bonds.
AIIB will implement its health strategy progressively, building on its existing experience and expanding into more complex health projects over time. Effective implementation of the strategy will require strong partnerships and collaboration to ensure AIIB financing supports the objectives of its Members, complements the financing of peer institutions, and responds to the needs of local communities. Strategic partnerships with key development and knowledge players, including CSOs and especially those players with deep ground level knowledge, will always be essential to ensuring maximum impact of AIIB’s financing.
