As health systems and health-care providers across the WHO European Region face mounting crises, many linked to socioeconomic and other challenges, WHO/Europe is convening a wider range of partnerships to encourage countries to adopt economies of well-being with health at the centre. This growing coalition includes entities from the worlds of economics and finance, including banks and other financial institutions, relevant ministries, and other stakeholders.
In Venice, Italy, on 9 June 2023, WHO/Europe launched a groundbreaking collaboration with the Istituto Superiore di Sanità (the Italian National Institute of Health, ISS) and Banca D'Italia (the Bank of Italy). Participants at the dialogue also included representatives from Finland, Iceland, Lithuania, and the United Kingdom including Wales, and renowned international experts from Greece, Ireland and the United Kingdom.
“A prospering economy does not necessarily lead to the well-being and prosperity of all people,” noted Dr Hans Henri P. Kluge, WHO Regional Director for Europe. “In 2020 and 2021, at the height of the COVID-19 pandemic, we saw 600 000 excess deaths linked to low investment in health systems and low human development. Moreover, 64% of young people across the European Union reported poor well-being in 2021, with those struggling to find a secure livelihood most affected.”
Dr Kluge continued, “This clearly demonstrates the failures of our current approach – a siloed one – to societal development and well-being. This means we need to forge new partnerships and find the common ground between central banks, finance and public health to shift investment where it matters most.”
The new initiative, which aims to catalyse a shift towards more fiscally resilient and healthy societies, is coordinated by the WHO European Office for Investment for Health and Development (the Venice Office).
Professor Mario Monti, former Prime Minister of Italy and European Commissioner, and Chair of the Pan-European Commission on Health and Sustainable Development convened by WHO/Europe, opened the meeting. He expressed his delight at the opportunity this initiative presents for the health, finance and economic sectors to form alliances for fiscally resilient decision-making that delivers concrete investments in health and well-being.
Finding common ground for better health
Health experts presented emerging evidence using new modelling techniques that showed the link between youth anxiety, youth unemployment and low tax revenues. Central bank and treasury representatives also shared innovative modelling that takes quality of life into account, and instruments being used to address societal challenges such as climate change and poor well-being. With other participants, they discussed possible methodological and data advancements to strengthen the evidence base even further.
Side meetings showed other areas of common ground, including the care economy and the gender pay gap. These are top priorities for many European countries, as discussed at the recent WHO/Europe meeting in Bucharest, Romania, on the crisis in the health and care workforce.
During the event in Venice, Mr Andrea Brandolini, the Bank of Italy’s Deputy Director General for Economics, Statistics and Research, commented, “The COVID-19 pandemic showed the importance of a close dialogue between public health and economics. That lesson should not be lost. Indeed, there is much room for collaboration and mutual learning in dealing with big issues such as youth mental health and population ageing.”
Summing up the day, Professor Silvio Brusaferro, President of the ISS, reflected on the significance of the initiative: “Today, we have created a synergy between economy and health, a step towards guaranteeing the present and the future health and wealth of our communities.”
This sentiment was echoed by participants, who agreed that 3 key action areas will take this initiative forward:
- the co-creation of state-of-the-art evidence and modelling of the relationship between health and the economy to shape investment decisions;
- a WHO European Region repository of best-practice examples and case studies that model the co-benefits of investing in the well-being of young people, healthy ageing, and development that serves those who live and work in rural areas (rural proofing); and
- country policy labs to apply the methodology and share learning and best practices.
A draft background paper to support the dialogue was produced by the Venice Office. It summarizes priorities for finding common ground in the areas of young people's mental health, population ageing, regional inequalities and the cost-of-living crisis. The paper also outlines existing dialogue, evidence and actions that can enable future collaboration across these sectors.
“We are truly encouraged by the outcome of the Venice meeting, and look forward to concrete measures being implemented across countries,” said Ms Christine Brown, Head of the Venice Office. “Coalitions and partnerships across multiple sectors are the only way forward when it comes to finding solutions to the big challenges of today.”