SBI Foundation Launches India Health Alliance to Bolster Healthcare Systems in India

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Mumbai, September 30, 2020: SBI Foundation, the CSR arm of State Bank of India, has launched the India Health Alliance (IHA), a collaborative healthcare programme to support the Government of India in its efforts to combat current and future healthcare challenges in the country. To catalyse this initiative, USAID India has joined as a strategic partner, Xynteo India has joined as a technical partner and IPE Global PAHAL (Partnerships for Affordable Health Access and Longevity) will provide the necessary technical assistance.

The prime focus of IHA would be on combating the COVID-19 healthcare pandemic in India, providing comprehensive primary healthcare and optimum nutrition to the vulnerable population, promoting innovative finance, as well as promoting innovations and cutting-edge technologies that can overall strengthen the health systems of the country.

To achieve the dual objectives of promoting innovative finance and strengthening the network of public and private health service providers, SBI Foundation is setting up a $100 million blended finance facility in collaboration with the National Health Authority, State Bank of India, and USAID India. The initiative will use a blended finance approach (debt + grants) to ensure rapid and effective financing assistance for technology-based innovations; human capital and infrastructure expansion; and management of community-level interventions.

In continuation of the ongoing efforts of combating the COVID-19 outbreak, SBI Foundation will be launching two new initiatives in the areas of Community Screening & Testing and Tele-Care. Individuals will be screened in collaboration with the local government and case of telecare, quality healthcare will be provided by using hyper-local helpline, telecounselling, along with emotional wellbeing support and connection to social security schemes. In the future, the initiatives will be scaled in partnership with other corporates.

Rajnish Kumar, Chairman, SBI said, “It brings us immense pleasure to launch the India Health Alliance (IHA). We believe it will help to ensure access to quality healthcare in the country, especially in the current pandemic situation. At this point, it is crucial to work on improving the health infrastructure of the country so that the health benefits reach the bottom of the pyramid and effectively improve their health and wellbeing. We, at SBI Foundation, are hopeful that initiatives like IHA are a step ahead and will serve its purpose to make India a leader in the area of healthcare which will be backed up with superior-tech innovation and innovative finance. Long-term partnerships will be forged with like-minded organisations to promote unified efforts that will pave the way to a healthier future for all Indians.”