World Bank Group kicks off $20 billion annual guarantee push

LONDON - The World Bank Group said on Monday it had started operating a new one-stop-shop loan and investment guarantee platform which it hopes will triple the provision of guarantees and risk insurance provided around the world to $20 billion a year.

He said that with guarantee products becoming more mainstream across the World Bank Group, there would be new uses developed for them, adding: "How you use it, I think it's where we can be really innovative and creative." The changes are the first tangible results from a group of private-sector investment executives assembled last year by Banga, dubbed the Private Sector Investment Lab, to develop ideas to draw more private capital to clean energy and other investments in developing countries.

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