The World Bank Group has announced the launch of the next phase of its 'Private Sector Investment Lab' initiative, adding four prominent business figures to its membership. India's Bharti Enterprises Chairman, Sunil Bharti Mittal, is among the latest to join the initiative, which aims to foster job creation and economic development in emerging economies.
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Next Phase of Private Sector Investment Lab
Launching the next phase of the initiative focused on implementing proven solutions at scale, the World Bank Group, in a release on April 23, announced that the new chapter also expands the Lab's membership to include industry leaders with experience generating jobs in developing economies, directly aligning with the Bank's sharpened focus on job creation as a core driver of development.
New Members from Key Industries
Other new members of the Lab include Bayer AG CEO Bill Anderson, Dangote Group President and CEO Aliko Dangote, and Hyatt Hotels Corporation President and CEO Mark Hoplamazian. The expansion brings in leaders from sectors critical to job creation, including infrastructure, energy, agribusiness, healthcare, tourism, and manufacturing. "These industries have a proven ability to translate investment into broad-based employment and economic opportunity," said the World Bank.
Proven Solutions at Scale
Over the past 18 months, the initiative has brought together experts from global financial institutions to identify barriers to private sector investment in developing countries and test actionable solutions. According to the World Bank, the outcomes have been consolidated into five key focus areas: Regulatory and Policy Certainty, Political Risk Insurance, Foreign Exchange Risk, Junior Equity Capital, and Securitisation.
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Private Sector's Role in Economic Transformation
"With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy," said World Bank Group President Ajay Banga. "This isn't about altruism—it's about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike."
"As President Banga has said, the private sector will play a pivotal role in this transformation, and I am delighted to join the PSIL alongside other distinguished business leaders. I have seen firsthand the power of connectivity to transform lives by creating opportunities for businesses to grow and communities to thrive. I hope that the successes of the telecommunications sector will be valuable as PSIL embarks on the next stage of its important work," said Sunil Bharti Mittal, Chairman of Bharti Enterprises.
"Now we're building on that foundation—bringing in additional leaders from sectors that are central to job creation and moving from ideas to implementation," Banga added.
