Achievement of the 2030 UHC targets rests in whether policymakers, donors and the private sector are willing to collectively work together to finance the additionality of resources needed to fill the $176 billion gap, whether through cash or in kind. Innovative finance will likely not be the only solution to this problem, but attempting to overcome its barriers remains an important step forward.
For innovative finance to be part of the solution, a shift in thinking towards deeper partnership by all stakeholders is needed. Policymakers must proactively identify areas of alignment and build inclusive processes to leverage private sector skills, know-how, and insights. At the same time, the private sector must show strategic leadership by proactively self-organizing and stating its’ intentions, principles of engagement, business interests, available assets, and desired returns.
Ultimately, the recommendations in this report can only materialize if high-level leadership of both the private and public sectors proactively call for alignment and better cooperation, and this call is both structurally and ideologically supported. Public sector leaders must set a clear policy direction for greater public-private cooperation while breaking down internal barriers to do so. Private sector leaders must work together to establish a structure that allows for strategic, proactive, and coherent leadership on innovative finance. The UNGA 2023 meetings marks a strong opportunity for leaders to establish these intentions and mark a new phase in impactful partnership for UHC.
