World Bank Mobilises Record $112bn Private Capital, Africa Gets $22bn

The World Bank Group mobilised a record $112 billion in private capital for developing economies in the 2026 financial year, more than three times the $35 billion recorded in 2022. Combined with its own financing, total support for developing economies exceeded $200 billion during the year.

Africa accounted for about $22 billion of the private capital mobilised, up by nearly 150 per cent from roughly $9 billion in 2022.

Middle-income countries drive growth

Lower-middle-income countries recorded an increase from $14 billion in 2022 to $37 billion in 2026. For upper-middle-income countries, mobilisation rose from $12 billion to $50 billion. Low-income countries remained broadly unchanged at about $3 billion, highlighting the difficulty of attracting private investment to the poorest and most fragile markets.

Guarantees and reforms

The World Bank attributed the increase to reforms introduced over the past three years to deepen collaboration with the private sector. These include integrating its public and private-sector operations under a single country contact point and expanding guarantee instruments.

EFN Non Oil Export Guarantee issuance exceeded $25 billion during the year, surpassing the institution's 2030 target of $20 billion four years ahead of schedule. Much of the growth came through the World Bank Group Guarantee Platform, launched in 2024 to provide a single access point for the institution's guarantee products.

Jobs remain the test

World Bank Group President Ajay Banga said the increase in private capital mobilisation reflected pressure from shareholders to deliver more investment, but stressed that the ultimate measure of success would be the jobs created. He said the Bank would continue to remove barriers to investment and expand the pool of investors in developing economies.

The lender noted that the private sector accounts for nine out of every 10 jobs in developing economies, making increased private investment critical to addressing the projected employment gap. It said 55 per cent of its total financing and mobilised capital during the year went into five sectors identified as having strong job-creation potential: infrastructure and energy, agribusiness, healthcare, tourism and value-added manufacturing.

For Nigeria and other lower-middle-income economies, the jump in mobilisation offers a wider pool of private capital and guarantee tools. Africa's $22 billion share shows the region is attracting more private backing, though the report did not give a country-by-country breakdown.