In Bangkok on 27 May, Banga told the 6,000‑strong audience that the Group’s private‑capital mobilisation rose from roughly $35 billion in FY2022 to $112 billion last year, and that total financing, combining the Bank’s own resources, eclipsed $230 billion.
Banga also added that the jump was most pronounced in lower‑middle‑income economies, where mobilisation nearly tripled, and in upper‑middle‑income countries, where it quadrupled. Africa saw a 100‑plus‑percent increase, yet low‑income nations still attracted only about $3 billion.
He outlined a five‑year plan to quintuple the Bank’s critical‑minerals business through a new country‑compact initiative that will involve 20 developing economies. The goal is to move from financing extraction to building domestic processing and manufacturing capacity, thereby keeping more value within source countries.
Banga warned that the world’s labour market will face an 800‑million‑job gap by 2035, as 1.2 billion young people enter the workforce but only 400 million jobs become available. To counter this, the Bank has earmarked $40 billion for infrastructure, health, education, and skills over the past year, with 30 percent earmarked for policy reform.
Six multilateral development banks are finalising common standards for packaging and transferring capital, enabling faster release of funds for projects. The Bank will present a detailed implementation roadmap at its next annual meeting in September.