Wednesday July 18, 2018

India can Save $5 Billion in Healthcare by Eliminating Child Marriage, Adolescent Pregnancy

The study conducted by World Bank and ICRW not only highlights the problem but also serves an economic dimension to the problem which could be an incentive for the economy

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Child Marriage
The risks of child marriage. Wikimedia
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July 15, 2017: Indians could be saving an amount of $5 billion (Rs 33,500 crore) in health care over a period of seven years, according to a new report by the World Bank and International Center for Research on Women (ICRW), if it eliminates child marriage and early childbirth. This amount is equivalent to the country’s 2017-18 higher education budget of Rs 33,329 crore.

The report concluded that $17 billion (Rs 1.14 lakh crore) could be saved globally across 18 countries by the year 2030 of which India accounts for $10 billion (62%) due to its large population. The basis of the study is quite rational as prohibiting early marriage and births reduces population growth, which in turn reduces pressure on government budgets.

Lower population growth across 106 countries from ending child marriage can lead to $566 billion savings per year in 2030.

ALSO READ: Sexual Exploitation of Women and Girls in Kenya in Return for Food

Child brides face violence, abuse and exposure to HIV/AIDS and other sexually transmitted diseases (STD), are more likely to drop out of school and give birth at an early age.
According to World Health Organisation (WHO), adolescent pregnancy can also lead to several health problems such as anaemia, malaria, HIV and other sexually transmitted infections, postpartum haemorrhage and mental disorders.

The proportion of girls marrying before legal age increased from 1.78% in 2001 to 2.45% in 2011 in urban India and declined from 2.75% to 2.43% in rural India over the same period. Furthermore, 70 districts spread across 13 states reported: “high incidence” of early marriages, which account for 21% of the country’s child marriages, as reported by IndiaSpend on June 9, 2017.

Another study carried by India Spend in 2015 showed that nearly 17 million Indian children between the ages of 10 and 19 are married.  Six million children are born from them, which constitutes 47% of India’s population currently married. Of these married children, 76% (12.7 million) are girls.

The study conducted by World Bank and ICRW not only highlights the problem but also serves an economic dimension to the problem which could be an incentive for the economy as a whole, if eradicated completely.

– Prepared by a Staff Writer of Newsgram

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World Bank shareholders endorse capital increase plan

Following the capital increase plan announced Saturday, the combined financing arms of the World Bank

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World Bank's prompt decission to pause two seperate projects with India nad Pakistan came after India's objection against it
The Wold Bank Logo Wikimedia

The World Bank has said its shareholders endorsed a capital increase package, a series of internal reforms, and a set of policy measures to strengthen the international lender’s capabilities.

The $13 billion capital increase package includes $7.5 billion of paid-in capital for the International Bank for Reconstruction and Development (IBRD), the group’s primary lending arm, and $5.5 billion for the International Finance Corporation (IFC), the group’s private sector lending arm, said the World Bank in a statement on Saturday, Xinhua reported.

World BAnk shareholders to have better plans.

World Bank shareholders also endorsed a $52.6 billion callable capital increase for IBRD, the statement said.

“Through the historic agreement endorsed today, our shareholders have clearly demonstrated a renewed confidence in global cooperation,” World Bank Group President Jim Yong Kim said.

“This capital package allows for greater responsiveness to risks to global stability and security, particularly in poorer countries and fragile states,” Kim added.

Following the capital increase plan announced Saturday, the combined financing arms of the World Bank are expected to reach an average annual capacity of nearly $100 billion between fiscal year 2019 and fiscal year 2030, said the World Bank. Kim said at a press briefing this week that the capital increase package doesn’t target changes of loans to any specific country.

Also Read: India will become High-Middle Income Country by 2047, says World Bank CEO

“It’s about how we think about income levels and how the World Bank Group can continue to be a partner and to support all of our member countries who are still clients,” he argued. He said that the multilateral lender would increase lending to lower middle-income countries over time. IANS