PHM urges Asian Infrastructure Investment Bank (AIIB) to rethink its health strategy

In a strong, tightly argued submission, PHM has urged the Asian Infrastructure Investment Bank:

• to refrain from supporting private sector healthcare and marketised health insurance;
• to refrain from exacerbating the debt burden on many low- and middle-income countries through their lending policies;
• to address the drivers of public sector austerity, including uniform and fair corporate taxation, action on tax avoidance, and pro-market anti-public ideologies promoted through international financial institutions;
• to recognise, analyse and address the structural drivers of economic inequality as a contribution to achieving ‘Health for All’;
• to avoid treating people’s health as a ‘factor of production’, rather than a fundamental human right;
• to ensure that loans to support healthcare infrastructure are fully integrated within more holistic development planning;
• to ensure a balanced allocation of resources across:
  - healthcare delivery and public health,
  - the social determinants of health (including housing, transport, WASH infrastructure, access to education, etc),
  - protection and restoration of biodiversity,
  - support for small farmers and agroecology,
  - infrastructure which improves the lives of women (including support for WASH capacity, home insulation, electricity for cooking and heating, and road transport)
  - infrastructure which addresses inequality.

Background

The AIIB was formed in June 2015 with 57 members and led by PR China.

It was a challenge to the existing multilateral development banks (MDBs), notably the World Bank. Not surprisingly the US sought to dissuade its allies from joining.

In a commendable commitment to inclusivity and transparency in late May 2024 the Bank launched a consultation regarding its draft health strategy. The call for submissions is here. The outline draft strategy is here. There are several further pages on their website which provide more information about the Bank.

PHM’s full submission is here.