The World Bank Group announced the launch of the next phase of its Private Sector Investment Lab. This new phase will focus on implementing solutions at scale to drive job creation in developing economies. The membership of the Lab has been expanded to include industry leaders known for generating employment in these regions.
"With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy," said World Bank Group President Ajay Banga. "This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate."
Over the last 18 months, the Lab engaged leaders from global financial institutions to identify barriers to private sector investment in developing countries. This effort has resulted in five key focus areas within World Bank Group operations: regulatory and policy certainty, political risk insurance, foreign exchange risk, junior equity capital, and securitization.
As the Lab advances its implementation phase, it brings in new members from sectors such as infrastructure, energy, agribusiness, healthcare, tourism, and manufacturing, all critical to job creation. The new members include high-profile names like Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; Aliko Dangote, President & CEO of Dangote Group; and Mark Hoplamazian, President & CEO of Hyatt Hotels Corporation.
"We are grateful to the original Lab leaders who helped us deliver strong results in the initial work period," Banga added. "Now we're building on that foundation—bringing in additional leaders from sectors that are central to job creation and moving from ideas to implementation."
The Lab's founding members included senior executives from AXA, BlackRock, HSBC, and several other major firms, under the chairmanship of Shriti Vadera, Chair of Prudential plc.
Shriti Vadera stated, "We are grateful to the Lab leaders who helped deliver such important results in the first phase. We welcome our new members’ support in continuing our focus on five key areas: regulatory and policy certainty; guarantees, as the most widely used and understood instrument to address political and credit risks; foreign exchange risk; scaling different forms of equity; and creating an asset class and liquid market to attract institutional funds."
Sunil Bharti Mittal expressed his enthusiasm: "The World Bank Group is leading the way with initiatives to grow economies and create opportunities in emerging markets around the globe. As President Banga has said, the private sector will play a pivotal role in this transformation, and I am delighted to join the PSIL alongside other distinguished business leaders."
Bill Anderson added, "I am honored to join the Private Sector Investment Lab during its next phase focused on implementation. Together, businesses and the WBG can unleash job creation in emerging markets by managing the risks and realizing the opportunities for the next generation growing up in low and middle-income countries."
Contact:
In Washington: press@worldbank.org