The Impact Investment Initiative for Global Health (Triple I) was launched on September 21, 2023, at the United Nations General Assembly High-Level Meetings in New York City. The USAID-Supported SAMRIDH Healthcare Blended Finance Facility and its technical support unit, IPE Global, were announced as among its 37 founding members.

The event, titled "Toward more Resilient, Equitable, and Sustainable Universal Health Coverage by 2030,” was hosted alongside the United Nations General Assembly (UNGA) by the Japan Society. Keynote speakers included Fumio Kishida, the Prime Minister of Japan, Bill Gates, Co-Chair of the Gates Foundation, and representatives from the G7, G20, WHO, World Bank, UNICEF, and Gavi.

The speakers praised triple I for its mission to foster collaboration, mobilize private sector investments, and improve healthcare transparency and effectiveness. They emphasized the importance of diagnostic tools and vaccines in pandemic preparedness, as well as the importance of community health workers in achieving universal health coverage.

Triple I, endorsed by G7 leaders, aims to attract private investment in global health through impact investing in order to provide equitable and affordable healthcare in low and middle-income countries.

This initiative addresses the global challenge of financing the Sustainable Development Goals (SDGs), particularly in developing countries, which are facing a USD 2.5 trillion annual shortfall, which is exacerbated by COVID-19. IPE Global and SAMRIDH, as founding members, commit to showcasing impact investment transactions, identifying urgent opportunities, and creating a conducive environment for commercial investment in healthcare.

Emphasising the need for collaborations to drive greater capital into healthcare Ashwajit Singh, Founder and Managing Director, IPE Global, said,

“Lack of access to healthcare services and products is one of the gravest challenges that humanity faces today. The need of the hour is to forge resilient public-private partnerships which bridge funding gaps and amplify the volume of investments in the sector, catalyzing universal health coverage. We are proud to be the first Indian entity to join Triple I for Global health as one of the founding members. Through this collaboration we are joining the global movement towards creating an enabling environment for mobilizing investments in the health sector and raising awareness on the crucial role that impact investments can play in ensuring that quality and affordable healthcare is accessible to all.”

SAMRIDH, a blended finance facility, brings together private, public, and philanthropic capital to increase private investments in health technology and organizations. By combining private and philanthropic capital, it assists healthcare startups in overcoming capital and market access challenges, allowing them to effectively serve underserved communities.