The Private Sector Investment Lab is a collaborative initiative between the World Bank Group and Chief Executive Officers of leading global private sector institutions to develop specific approaches that can be implemented and scaled by the World Bank to mobilize private capital more effectively, for development priorities that must be addressed to achieve a world free of poverty on a livable planet.
This includes ideas for improved financing structures; ways to better align the World Bank with the needs and speed of private finance; new approaches to balancing and allocating risks across investors; and reimagining partnerships.
Drawing on the experience of the 15 Chief Executive Officers and Chairs that comprise the Lab’s core membership – including leaders from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek and Three Cairns Group – the Lab is building on the World Bank’s current work to address existing barriers and develop solutions which support private sector investment in emerging markets.
The Lab is Co-Chaired by Mark Carney, UN Special Envoy on Climate Action and Finance and Co-Chair of GFANZ, and Shriti Vadera, Chair of Prudential plc.
The Lab is working as an interactive, collaborative forum between these private sector actors and the leadership of the World Bank Group. The goal is to elicit actionable feedback from the private sector on specific actions the World Bank Group can take in the immediate as well as the longer term to improve its effectiveness at mobilizing private capital for financing urgent development challenges in emerging markets.
The Lab meets regularly and reports directly to the World Bank Group President Ajay Banga. Makhtar Diop, Managing Director of the International Finance Corporation, oversees its coordination and serves as the Lab’s point of contact at the World Bank Group.