World Bank to streamline loan, asset guarantees

Banga: If you want to get to three times where we are today, the quicker we get there, the better we do it, the happier we’ll be, and the more ambitious we’ll be about the next step. — AFP

WASHINGTON: The World Bank Group said it would consolidate its loan and investment guarantee structure as part of its goal to triple its annual guarantees to US$20bil by 2030 to boost private renewable energy investments in developing countries.

The reforms, announced on the sidelines of a G20 finance leaders meeting in Sao Paulo, Brazil, would move all of the guarantee experts from across the World Bank’s business units into a single platform.