India-based health solutions provider SAMRIDH Blended Finance Facility has been declared the winner of the P3 Impact Award at the 2022 Concordia Summit for collaborating and addressing societal challenges. The announcement was made by the US Department of State’s Special Representative for Global Partnerships, Dorothy McAuliffe while delivering remarks at the UN General Assembly, according to the state department release.
The Office of Global Partnerships at the US Department of State, the University of Virginia Darden School of Business Institute for Business in Society, and Concordia announced Sustainable Access to Market and Resources for Innovative Delivery of Healthcare (SAMRIDH) Blended Finance Facility as the winner of the P3 Impact Award. The annual P3 Impact Award recognizes exemplary cross-sector collaborations that feature public, private, nonprofit, or non-governmental organizations addressing societal challenges, the release stated.
SAMRIDH Blended Finance Facility is the eighth public-private partnership (P3) to win the annual award. According to the release, P3s are celebrated for leading the way in providing innovative solutions to pressing issues in areas such as economic growth and development, sustainability, and global health. It is a blended finance facility supported by USAID and implemented by IPE Global in partnership with varied stakeholders from government, philanthropic and financial institutions, private sector, incubator/accelerators and academia.
It works to address the weak health systems and persistent shortage of skilled workforce and infrastructure in India, which have been exacerbated by the pandemic. SAMRIDH combines commercial capital with public and philanthropic funds to drive greater investments in market-based health solutions, the state department said. SAMRIDH’s immediate goal is to bridge the supply-side gaps in emergency health services and accelerate India’s response to COVID-19. In the long term, it aims to strengthen comprehensive health services to improve access to affordable and quality healthcare for vulnerable communities and build resilient health systems to effectively respond to future health emergencies. (ANI)
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