$112B Mobilized for Jobs in Developing Economies

Up from $35 billion four years ago — the biggest private capital year in WBG history.

September 18, 2026 Last week, we flagged private capital mobilization as the story to watch. This week, it's the headline! The World Bank Group has just posted its strongest year ever for private capital in developing countries, and we explore what that milestone means — how it was achieved, what tools made it possible, and where it's showing up on the ground.  See how guarantee mechanisms are driving investment into markets that private capital once deemed too risky, how IFC's strategy is making every dollar work harder, and two country stories — Oman's push to diversify beyond oil, and a cohort of small business owners in Lesotho proving that the right support at the right moment creates jobs. The thread running through all of it: private capital is not just a financing tool — it is an economic transformation strategy.

Record $112 Billion Mobilized — and the Goal Is Jobs The World Bank Group mobilized a record $112 billion in private capital for developing countries in FY26 — more than tripling results from four years ago. Nine in ten jobs in developing economies come from the private sector — which is exactly why this number matters. The case for private capital as a development tool has never been stronger.

EDITOR'S PICKS

How Guarantees Help Investors Say Yes to Development Private capital doesn't flow to developing markets by default — it needs de-risking. MIGA's guarantees against political risk and non-commercial losses do exactly that, and last fiscal year the numbers prove it: $9.5 billion in new guarantees, mobilizing $9.8 billion in private investment across 44 projects in 40 countries.

Every IFC Dollar Is Designed to Pull More IFC structures deals so that every dollar it puts in attracts multiples more from private investors. Direct equity stakes, PPP advisory, and risk-sharing instruments all share the same logic: lower the barrier, move the capital. IFC's strategy makes the ambition explicit — each dollar should generate significantly more private investment into job-creating ventures in emerging markets.

In Oman, Private Capital Is Building a Post-Oil Economy Oman is aiming to cut hydrocarbons from 30% of GDP to 8.4% by 2040, and the World Bank Group is helping with that shift. IFC led financing for the region's largest polysilicon facility — mobilizing $713 million from private investors and creating nearly 3,000 jobs — while MIGA backed the Duqm Economic Zone.

In Lesotho, the Smallest Businesses Are Driving the Biggest Change Grants and mentoring rarely make headlines, but in Lesotho, they're generating results. Since 2022, the CAFI project has supported 464 small businesses — more than half women-led — facilitated $2.5 million in finance, and created 2,100 jobs. Learn more about entrepreneur Lerato Masupha's journey leading this innovation.

DATA FOR DEVELOPMENT

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QUOTE OF THE WEEK

	“...the number only matters if the capital goes where it can create opportunity and jobs. That is the work ahead: keep removing barriers, keep expanding the pool of investors, and keep driving more capital into developing economies.” Ajay Banga, World Bank Group President WBG Mobilizes Record Private Capital for Developing Countries, Driving Job Creation September 17, 2026

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