4. Integrate all health financing functions by:
- Integrating results-based financing interventions with other health financing functions and the broader public finance context at the country level to address sustainability and prevent distortions and
- Developing a joint strategic approach between IFC and the Bank and complementary implementation on the ground, toward health insurance, including mandatory and voluntary coverage.
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The Bank can add value by stressing its comparative advantage via linking health financing with public finance and working across teams, as suggested in the 2007 HNP strategy.
An integrated approach that links health financing, including RBF, with public sector reforms is likely to be more effective than single-issue interventions in establishing the relevant institutions that are needed to sustain reforms.
The health financing collaboration between the IFC and the Bank has been limited so far.
WB: Agree. The second phase of the RBF will include an explicit emphasis on fiscal limits and sustainability. WB, IFC Agree. The HNP GP will be working on developing a joint strategic approach with IFC toward health insurance.
Action 7: Develop joint WB/IFC strategic approach toward health insurance.
Indicator: % of new IFC loans, equity, and other financial services with activities to establish/strengthen health insurance schemes that benefitted from a WBG-wide peer review.
Baseline: TBD (FY2015).
Target: TBD
The Global Practice indicates that it has developed a road map for Bank-IFC collaboration in the health sector. As part of this discussion, IFC concluded that private voluntary health insurance is not a viable product for it to offer. As this is the centerpiece of Recommendation 0312, IEG proposes that this recommendation be made inactive.
Under the guidance of the WBG president, the WB and IFC developed a roadmap for harnessing the private sector for health. The roadmap concludes that private VHI does not constitute a viable means to achieve UHC. As such, health insurance does not constitute a priority for IFC investment and discussions are ongoing between the WB and ICF about how to reflect this strategic decision in action 7.