Almost 10 years ago, countries worldwide adopted the Sustainable Development Goals 
(SDGs), 17 targets for the global community to achieve by 2030 to ensure peace and prosperity for current and future generations. The first of these goals, SDG 1, calls for an end to poverty in all its forms everywhere.
Tag Archives: Investments
Breakthrough pension reform in Saudi Arabia – A model for the MENA region
Saudi Arabia took a big leap forward in transforming its pension system with the recent 
announcement of comprehensive reforms, designed with support from the World Bank, aimed at enhancing income protection during old-age, but also promoting gender equality. Aging populations, caused by increasing life expectancy and falling fertility rates, combined with the changing nature of work and the erosion of informal and traditional family support systems, have created considerable challenges for pension systems worldwide. Many are facing fiscal sustainability pressures and adequacy concerns, including in the Middle East and North Africa (MENA) region. Pension reform is always difficult due to the political economy challenges, which is why this comprehensive pension reform in Saudi Arabia is such a breakthrough. It truly sets a new benchmark for the MENA region, addressing critical issues such as retirement age, maternity leave, and social insurance coverage.
4 things we learned since kicking off our Food Security Updates
Smart health taxes: A win for public health and the economy
Imagine a world where strategic investments in health not only save lives but also drive 
economic growth and resilience. This vision was at the heart of the 7th Annual Health Financing Forum, where hundreds of participants and experts recently gathered to explore health financing in the post COVID-19 era.
Digital pathfinders: The role of youth in the online gig economy
Imagine a world where strategic investments in health not only save lives but also drive economic growth and resilience. This vision was at the heart of the 7th Annual Health Financing Forum, where hundreds of participants and experts recently gathered to explore health financing in the post COVID-19 era.
As we face the slowest five-year growth in 30 years, with financial stress, inflation, and heightened debt levels, innovative fiscal policies are critical. The economic slowdown, amplified by COVID-19’s lingering effects, underscores the need for public investments in health and other social priorities like education to support human capital.
Within reach: Navigating the political economy of decarbonization
Many companies in emerging market and developing economies (EMDEs) are now 
prioritizing climate action and advancing gender inclusiveness. However, there are still too few bringing these two goals together in an integrated, comprehensive, and strategic way.
Rethinking social protection in South Asia: Toward progressive universalism
In recent years, South Asia has been beset with an unprecedented combination of negative 
shocks. In Sri Lanka, an economic crisis on the heels of COVID-19 pushed approximately 3 million people into poverty. In Pakistan, the devastating 2022 floods – a direct result of the country’s vulnerability to climate change – left between 8.4 million and 9.1 million more people in poverty. These impacts have been further amplified by the global fuel and food crises in the wake of Russia’s invasion of Ukraine. And they hit hard those who are already the most vulnerable –women, youth and children.
World Bank Group Guarantee Platform Goes Live
Platform will revolutionize the landscape of development financing
WASHINGTON, July 1, 2024 – Starting today, the World Bank Group (WBG) guarantee platform is open for business. The platform, housed at the Multilateral Investment Guarantee Agency (MIGA), brings together products and experts from the World Bank, International Finance Corporation (IFC), and MIGA for simplicity, efficiency, and speed. It aims to boost WBG annual guarantee issuance to $20 billion by 2030.
WBG Guarantees will serve as a one-stop-shop for all WBG guarantee business, providing the best guarantee solutions for clients to meet project needs and development priorities. WBG clients can now choose from a simplified market-friendly menu of guarantee options. The platform will provide three types of coverages: credit guarantees for loans to the public or private sector; trade finance guarantees for trade finance projects involving public entities; and political risk insurance against non-commercial risks for private sector projects or public-private partnerships.
“MIGA is excited to host and begin the operationalization of the guarantee platform. This marks a pivotal moment in our commitment to sustainable economic development,” said Hiroshi Matano, MIGA Executive Vice President. “We aim to leverage the World Bank Group’s collective expertise and knowledge of guarantee business to usher the WBG into a new era of partnership with the private sector, catalyzing foreign investment in emerging markets and developing economies.”
A major priority during the WBG’s recent evolution process was enabling and catalyzing private capital flows, underscoring the effectiveness of guarantees. The G20 Independent Expert Group’s report on Strengthening Multilateral Development Banks called for expanded use of guarantees to mitigate risk and unlock private finance. And the Private Sector Investment Lab, launched by the WBG in June 2023 to identify barriers and solutions for private sector investment in emerging markets, provided specific guidance on using guarantee instruments.
The platform’s transformative solution is set to revolutionize the landscape of development financing, revitalizing the role of guarantees in development and aligning with the overall effort to mobilize private capital for development. It complements the World Bank’s country-level support in creating an environment supportive to private capital mobilization. This collaboration is supported by IFC’s advisory and financial instruments to enhance private sector engagement with country clients.
The new platform introduces a scalable model, prioritizing high-impact projects, thereby optimizing resource allocation, and facilitating growth. Leveraging the collective expertise of the WBG, the platform will drive impactful solutions across diverse sectors, including energy access, pandemic preparedness, and climate action. Through collaborative efforts and innovative financing systems, the platform is set to drive sustainable development and promote inclusive growth worldwide.
In fiscal year 2024, the World Bank Group issued approximately $10.3 billion in new guarantees using products that will be part of the platform: $8.2 billion from MIGA, $1.4 billion from IFC, and nearly $700 million from the World Bank.
About World Bank Group Guarantees
Initiated in 2024, World Bank Group Guarantees consolidates all guarantee products and experts from across the World Bank Group institutions at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the WBG’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://twitter.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact:
In Washington: Elizabeth Howton, (202) 458-5922 or ehowton@worldbankgroup.org
Introducing Digital Water: Leading the way on utility innovation
Utilities around the world are looking to innovate digital solutions. To respond to this, the 
World Bank Water Global Practice has created a new knowledge and technical assistance platform called “Digital Water,” to transform water and supply and sanitation utilities into smart-enabled organizations. Digital Water offers digital maturity assessments, trainings, and knowledge products to support specific project components and help operators modernize and improve their performance.
Nine key facts about poverty and inequality in Latin America and the Caribbean
Our goal at the World Bank is to end poverty on a livable planet. As part of that mission, it is 
critical that we understand both the current state and evolution of the associated challenges, so as to inform policies that raise the standard of living of people in Latin America and the Caribbean (LAC), where poverty and inequality impact millions. Our new Regional Poverty and Inequality Update leverages the latest data and provides an in-depth analysis of these critical challenges within LAC. It offers detailed insights about the evolving landscape of poverty and inequality that can guide informed decisions for future action.
Netherlands for the World Bank 
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