Growth in Private Capital Mobilization (PCM)
• PCM more than tripled over four years, from $35 billion in FY22 to $112 billion in FY26
• Combined with the Group’s own financing, total financing and mobilization exceeded $200 billion in FY26
Breakdown by Income Level and Region
• Lower-middle-income countries: PCM nearly tripled, from $14 billion (FY22) to $37 billion (FY26)
• Upper-middle-income countries: PCM more than quadrupled, from $12 billion to $50 billion
• Low-income countries: PCM held steady at about $3 billion, despite being the most challenging investment environments
• Africa: PCM rose nearly 150%, from about $9 billion to $22 billion
Drivers Behind the Growth
• Three years of institutional changes to work more effectively with the private sector
• Made processes faster and simpler
• Brought public and private sector operations closer together
• Expanded tools available to investors
• Created a single point of contact per country, with integrated country strategies based on development needs
Role of the Private Sector Investment Lab
• Identified practical barriers holding back investment in developing economies
• Developed a work plan addressing:
• Business and regulatory environment improvements
• Expanded guarantees and local-currency financing
• Foreign-exchange challenge solutions
• Increased equity tools
• New mechanisms for institutional investors to participate at scale
Guarantees Milestone
• Issued more than $25 billion in guarantees in FY26
• Surpassed the goal of $20 billion in annual issuance by 2030 — four years ahead of schedule
• Growth led by the World Bank Group Guarantee Platform, created in 2024, which simplified access to guarantee products across the institution
Leadership Comment
• President Ajay Banga: shareholders and clients called for more mobilized private capital and a better partnership approach with the private sector
• Banga said the institution changed how it works — faster, simpler, as “one World Bank Group”
• Emphasized that the $112 billion figure only matters if capital reaches places that create opportunity and jobs
• Cited ongoing priorities: removing barriers, expanding the investor pool, and driving more capital into developing economies
Jobs Strategy
• Job creation is described as the Group’s central priority
• 1.2 billion young people will reach working age in developing economies over the next 10–15 years
• Only about 420 million jobs are projected to be created in that time
• Private sector responsible for 9 out of 10 jobs in developing economies
• Strategy built around three drivers:
• Investing in human and physical infrastructure
• Creating business-ready regulatory environments
• Helping the private sector scale
• Targets five job-rich sectors: infrastructure and energy, agribusiness, healthcare, tourism, and value-added manufacturing
Reach and Impact
• In FY26, 55% of total financing (own account plus mobilized capital) went to job-rich sectors
• Investment is not limited to easily accessible markets — increasingly reaching lower-income economies
• Regional and local investors are playing a growing role alongside global capital
Looking Ahead
• World Bank Group is expanding investor participation through its originate-to-distribute (O2D) approach
• Aims to package and distribute investments to institutional investors at greater scale
• Goal: connect more global long-term capital pools with opportunities in developing economies
• Overall ambition: mobilize more capital from more sources to drive job creation and economic opportunity
