World Bank launches investment lab implementation phase, focuses on Jobs in infrastructure, energy, health 

The World Bank Group President, Ajay Banga, made this statement at the ongoing International Monetary Fund (IMF)/World Bank Meetings on Wednesday in Washington D.C.

Banga explained that this new chapter expands the Lab’s membership to include industry leaders with experience in generating jobs in developing economies.

He further emphasized that the Lab’s expansion directly aligns with the bank’s sharpened focus on job creation as a core driver of development.

“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. This is not 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,” he added.

Banga said, “As the Lab enters its implementation phase, it will expand its membership to include private sector leaders from sectors critical to job creation, such as infrastructure and energy, agribusiness, healthcare, tourism, and manufacturing.” 

He also shared that “Over the last 18 months, the Lab has brought together leaders from global financial institutions to identify the most pressing barriers to private sector investment in developing countries and to test actionable solutions.” 

He said that the work had been consolidated into five priority focus areas that were being integrated across the bank group operations.

“Regulatory and policy certainty: Supporting governments in creating stable regulatory frameworks, for instance, the effort to connect 300 million people in Africa to electricity relies on upfront policy clarity to attract long-term capital. 

“Political risk insurance: Streamlined guarantee instruments have led to a 30% increase in issuance compared to 2024, enhancing investor confidence and helping the bank meet its goal of tripling the use of guarantees by 2030. 

“Foreign exchange risk: Scaling local currency financing to deepen domestic capital markets. In 2024, International Finance Corporation (IFC) committed to one-third of its long-term financing in local currency with a goal of reaching 40% by 2030. 

“Junior equity capital: inaugurated the Frontier Opportunities Fund to absorb early-stage risk initially capitalized with IFC income, the fund would grow with donor and philanthropic contributions. 

“Securitization: Collaborating with institutions such as S&P and BlackRock to standardize and securitize portfolios, unlocking capital from pension funds, insurers, and sovereign wealth funds,” Banga said.

The World Bank Group president emphasized that these industries have a proven ability to translate investments into broad-based employment and economic opportunity.

He announced the new members of the Lab, including 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.

Banga expressed gratitude to the original Lab leaders who helped deliver strong results during the initial work period.

Banga expressed gratitude to the original Lab leaders who helped deliver strong results during the initial work period.

He added that the Lab is now building on that foundation by bringing in additional leaders from sectors central to job creation and transitioning from ideas to implementation.