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World Bank Initiates Data Transparency Drive to Foster Private Investment in Developing Nations

World Bank Initiates Data Transparency Drive to Foster Private Investment in Developing Nations

The World Bank aims to boost private sector investment in developing countries by releasing more of its proprietary data, including information on debt defaults, starting next week, according to World Bank President Ajay Banga. Speaking at the China Development Forum, Banga highlighted the Bank’s efforts to attract private investment to emerging markets, noting that $41 billion of private capital was mobilized last year, with plans to surpass this figure in the current year.

Despite these achievements, Banga stressed the need for further progress, citing a slowdown in economic growth in developing nations and rising debt levels. He emphasized the urgent need to address barriers hindering private sector investment, such as regulatory uncertainty and political risks.

To address these challenges, the World Bank engaged with chief executives from asset management companies, banks, and operators to identify key concerns. Additionally, the Bank announced reforms to enhance its loan and investment guarantee structure and triple its annual guarantees by 2030.

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In a significant move, the World Bank will begin publishing private sector recovery data by county income level, along with private sector default data categorized by credit rating. These efforts aim to inspire investor confidence and facilitate informed decision-making.

Banga also highlighted the Bank’s long-term initiative to establish a securitization platform, streamlining investment processes for institutional investors and unlocking capital flows to emerging markets. By bundling standardized investments into comprehensive packages, the Bank seeks to encourage substantial investments and address the current fragmentation in lending practices.

Banga commended China’s progress over the past five decades, underscoring its achievements in job creation, poverty reduction, and environmental sustainability. He noted China’s transition from a major borrower to a significant donor to the World Bank, highlighting its transformative journey as a model for other developing nations.

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