The collaboration will improve access to affordable and quality healthcare for vulnerable populations in Tier-II and III cities, and rural and tribal regions
Atal Innovation Mission (AIM), NITI Aayog, and the US Agency for International Development (USAID) announced a new partnership under the Sustainable Access to Markets and Resources for Innovative Delivery of Healthcare (SAMRIDH) initiative, which will improve access to affordable and quality healthcare for vulnerable populations in Tier-II and III cities, and rural and tribal regions.
In 2020, USAID, IPE Global, and stakeholders from the Indian government, academia, and the private sector developed the innovative SAMRIDH blended finance facility to combine public and philanthropic funds with commercial capital to create and rapidly scale market-based health solutions.
The new partnership announced will enhance SAMRIDH’s efforts to reach vulnerable populations, leveraging AIM’s expertise in innovation and entrepreneurship. AIM and SAMRIDH will leverage philanthropic capital, and public sector resources to offset barriers for commercial investments in small and medium health enterprises to invest in and scale healthcare solutions.
The collaboration will focus on innovations across the healthcare landscape with the common goal to mount an effective response to the ongoing third wave of COVID-19 and build health system preparedness for future infectious disease outbreaks and health emergencies.
Speaking during the virtual launch of the event, CEO, NITI Aayog Amitabh Kant said that blended financing has the potential to redefine development finance, by enabling partnerships that unlock greater pools of affordable capital for scaling-up businesses that deliver both financial and social returns.
Following opening remarks from leaders, an informative and compelling white paper titled, ‘Reimagining Healthcare in India through Blended Finance’, was released. The white paper offers an overview of blended finance and its role in promoting healthcare access in India while providing case studies on how to apply blended finance approaches, and examining the current challenges to achieving blended financing at scale.
The event continued with a call for proposals from innovators and entrepreneurs, particularly women-led enterprises, working on high impact health innovations in India, and concluded with a panel discussion on the need to scale blended financing market solutions and innovations in Indian healthcare ecosystem.
