World Bank Group Guarantee Platform:
The World Bank Group (WBG) guarantee platform was opened for business.
- World Bank Group Guarantee Platform is housed at the Multilateral Investment Guarantee Agency (MIGA) and 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 businesses, 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;
- Political risk insurance against non-commercial risks for private sector projects or public-private partnerships.
