World Bank Attracts Record Private Capital for Global Projects
- Reports
- 18
- Developments
- 1
- Repetition
- 94%
New informationRepeats or wire copies
What happened
The World Bank attracted US$112 billion in private capital for projects it facilitated in the fiscal year ended June, which is more than three times the amount secured in fiscal 2022. This private funding, combined with $123 billion from the bank's own resources, brought the total to $235 billion. World Bank President Ajay Banga stated the institution is working to standardize loans to attract institutional investors, such as pension funds and asset managers.
Why it matters
The World Bank is prioritizing private investment to address large financing needs in developing countries for sectors like energy transition, education, healthcare, and agriculture, particularly as official development assistance declines. Ajay Banga noted that Larry Fink, founder of BlackRock, had previously encouraged the bank to create an asset class capable of tapping into larger pools of private-sector funds.
Who's involved
- Larry FinkLarry Fink, founder of BlackRock, urged the World Bank to develop an asset class for private funds.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BlackRockSpeculative
BlackRock might see increased demand for investment opportunities in developing countries as the World Bank standardizes and packages loans to attract institutional capital.
Keep exploring
The entities involved
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Boston Consulting Group
global management consulting firm
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BlackRock
American multinational investment management corporation
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