World Bank Opens Platform Pursuing $20 Billion in Guarantees (1)

The World Bank launched a new program that aims to boost investment guarantees to $20 billion by the end of the decade, as it seeks to mobilize trillions of dollars in investments to finance development and climate projects in poor countries.

The platform will be hosted by the Washington-based lender’s Multilateral Investment Guarantee Agency, it said in a statement Monday, and will tap expertise from the bank’s International Finance Corp, which invests in the private sector.

Since taking over the World Bank last year, President Ajay Banga has focused on mobilizing capital from the private sector to ...