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July 2, 2024

News Desk

World Bank Group Launches $20 Billion Annual Guarantee Initiative

The World Bank Group announced Monday that it has launched a new loan and investment guarantee platform that it hopes will triple the provision of guarantees and risk insurance around the world to $20 billion a year. The goal, which it wants to achieve by 2030 and which aims to increase investment in higher-risk regions from Africa to Ukraine, will bring together key units of the World Bank, the International Finance Corporation (IFC) and the Multilateral Organization Investment Guarantee Agency (MIGA). Hiroshi Matano, Executive Vice President of MIGA, told Reuters that the combination will begin to support new innovative financing,

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