The World Bank Group mobilised $22bn in private capital for African economies during its 2026 fiscal year, a significant increase from about $9bn recorded four years earlier, reflecting intensified efforts to draw private investment into developing markets.
The institution revealed this in a statement on Thursday, explaining that the growth was part of a broader strategy to leverage private-sector funding alongside World Bank financing across developing economies.
“The growth was broad-based. PCM to lower-middle-income countries rose from $14bn in FY22 to $37bn in FY26, nearly tripling. In upper-middle-income countries, it increased from $12bn to $50bn, more than quadrupling.
“In low-income countries, among the most challenging settings for private capital, PCM was maintained at about $3bn. And across Africa, PCM rose from approximately $9bn to $22bn, an increase of nearly 150 per cent,” the lender stated.
Across developing economies, private capital mobilisation increased more than threefold, rising from $35bn in FY22 to $112bn in FY26. In lower-middle-income countries, mobilisation climbed from $14bn to $37bn, while upper-middle-income countries recorded an increase from $12bn to $50bn within the same period.
For low-income countries, where attracting private investment continues to present significant challenges, private capital mobilisation remained at approximately $3bn.
“Three years ago, our shareholders and clients were clear: utilise World Bank Group financing and knowledge to mobilise more private capital and become a better partner to the private sector. We changed how we work to do that, faster, simpler, and as one World Bank Group,” World Bank Group President Ajay Banga said.
“The result is $112bn mobilised this year, more than three times what we started. But the number only matters if the capital goes where it can create opportunity and jobs. That is the work ahead: keep removing barriers, keep expanding the pool of investors, and keep driving more capital into developing economies,” the executive stated.
The World Bank Group linked the increase to reforms introduced over the last three years to simplify and accelerate its engagement with private investors. These measures included closer coordination between its public and private-sector operations and an expansion of financial instruments available to investors.
The institution also said it had increased the use of guarantees, local-currency financing and equity instruments, while addressing foreign-exchange risks and developing new channels for institutional investors to participate in projects across developing economies.
During FY26, the group issued more than $25bn in guarantees, surpassing its $20bn annual issuance target for 2030 four years ahead of schedule. The World Bank Group Guarantee Platform, established in 2024 as a central access point for guarantee products across the institution, was identified as a major driver of the increase.
The expansion in guarantees is particularly relevant to Africa, where the World Bank Group announced in May its intention to more than double annual guarantee issuance on the continent to $6.4bn by 2030. According to the group, the additional guarantees could help mobilise $23bn in private capital for Africa over the next four years.
The World Bank Group said 55 per cent of its overall financing, covering both its own resources and mobilised private capital, was directed to five job-intensive sectors in FY26. These included infrastructure and energy, agribusiness, healthcare, tourism and value-added manufacturing.
The institution added that it was working on an originate-to-distribute model that would allow investments to be packaged and distributed to institutional investors on a larger scale, thereby linking more lending to investment opportunities in developing economies.
