On April 23, 2025, Washington, D.C., the United States of America (USA) based World Bank Group (WBG) announced the next phase of its Private Sector Investment Lab (PSIL), focusing on scaling solutions to attract private investments and generate jobs in developing nations.
- Sunil Bharti Mittal, Chairman of New Delhi (Delhi)-based Bharti Enterprises Limited (BEL), has joined the PSIL alongside global industry leaders, including Bill Anderson, Chief Executive Officer (CEO) of Germany-based Bayer AG; Aliko Dangote, President and CEO of Nigeria-based Dangote Group; and Mark Hoplamazian, President and CEO of USA-based Hyatt Hotels Corporation.
About Sunil Bharti Mittal:
i.Sunil Bharti Mittal is a leading Indian business conglomerate, and also the founder of New Delhi based Bharti Airtel Limited, India’s largest telecom company.
ii.He received the Padma Bhushan, India’s third-highest civilian award, in 2007 for his contributions to the field of Trade and Industry.
iii.He was awarded the Knight Commander of the Most Excellent Order of the British Empire (KBE) by British King Charles III in 2025 for his significant contributions to the United Kingdom (UK)–India business relations.
About the Private Sector Investment Lab (PSIL):
i.Launched in June 2023, the PSIL is a collaborative initiative between the WBG and global private sector leaders.
- It is chaired by Shriti Vadera, Chair of Prudential plc based in London, the United Kingdom(UK).
- The Lab’s founding members comprise senior executives from prominent global institutions, including AXA S.A., BlackRock Inc., HSBC Holdings plc, Macquarie Group Limited, Mitsubishi UFJ Financial Group Inc., Ninety One plc, Ping An Insurance (Group) Company of China Ltd., Koninklijke Philips N.V. (Royal Philips), Standard Bank Group Limited, Standard Chartered plc, Sustainable Energy for All (SEforALL), Tata Sons Private Limited, Temasek Holdings (Private) Limited, and Three Cairns Group.
ii.Its primary objective is to identify and implement solutions that address barriers to private sector investment in emerging markets and developing economies.
iii.The initiative will now implement tested solutions across five strategic areas to mobilize institutional capital and reduce risks for investors.
Five Key Focus Areas of the PSIL:
i.Regulatory Stability: Support governments in creating predictable policy frameworks to attract private capital.
ii.Political Risk Insurance: Streamlined offerings led to a 30% year-on-year increase in guarantee issuance, enhancing investor confidence.
iii.Local Currency Financing: Scaling solutions to mitigate foreign exchange risks and strengthen domestic capital markets.
iv.Frontier Opportunities Fund: A new fund leveraging initial capital from International Finance Corporation (IFC) income to support high-risk, early-stage projects. It aims to expand via donor and philanthropic contributions.
v.Standardized Investment Products: Collaboration with USA-based S&P Global and BlackRock to create securitized products, unlocking capital from pension funds, insurers, and sovereign wealth funds.
About World Bank Group (WBG):
The WBG is comprised of five international organizations: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).
President – Ajay Banga
Headquarters – Washington, D.C., the United States of America(USA)
Established– 1944
