The World Bank Group announced a record $112 billion in private capital for developing economies during the 2026 financial year, more than three times the $35 billion for the year 2022.
In addition to its own financing, the institution reported that the total amount of support for developing countries surpassed $200 billion during the year.
Africa accounted for about $22 billion of the private capital mobilised, representing an increase of nearly 150% from roughly $9 billion in 2022.
The News Chronicle reports that mobilisation in lower middle income countries rose from $14 billion in 2022 to $37 billion, while upper middle income countries recorded an increase from $12 billion to $50 billion. Low income countries remained largely unchanged at about $3 billion.
The World Bank cited the increase as due to reforms that seek to strengthen private sector partnerships and broaden guarantee instruments. The issuance of guarantees exceeded $25 billion, surpassing its $20 billion 2030 target four years ahead of schedule.
World Bank Group President Ajay Banga said the ultimate measure of increased investment would be the jobs created.
About 55% of total financing and mobilised capital went into infrastructure and energy, agribusiness, healthcare, tourism and value added manufacturing.
