New Delhi– The World Bank Group has launched the next phase of its Private Sector Investment Lab (PSIL), expanding its membership to include key global business leaders, including Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises.
The Lab’s new phase focuses on scaling proven solutions and aligns with the World Bank’s sharpened emphasis on job creation as a core driver of development. The expanded group brings together leaders with deep experience in generating employment and economic growth in developing markets.
“With this expanded membership, we’re integrating this work across our operations and directly connecting it to the jobs agenda that drives our strategy,” said Ajay Banga, President of the World Bank Group. “This isn’t about altruism—it’s about showing the private sector a path to investments that deliver returns and uplift people and economies alike.”
Joining Mittal in the Lab are Bill Anderson, CEO of Bayer AG; Aliko Dangote, President and CEO of Dangote Group; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
“I’m honored to join PSIL alongside such distinguished leaders,” said Mittal. “As President Banga has noted, the private sector will be pivotal in transforming emerging markets. I’ve seen firsthand how connectivity can transform lives, helping businesses grow and communities thrive. I hope the telecommunications sector’s successes can contribute to PSIL’s mission as it moves into this next phase.”
Over the past 18 months, the Lab has brought together leaders from global financial institutions to identify key barriers to private sector investment in developing countries and to test practical solutions.
“We’re grateful to the original Lab leaders who helped deliver strong results in the initial phase,” Banga said. “Now, we’re building on that foundation—bringing in new leaders from sectors central to job creation and moving from ideas to execution.”
The Lab is chaired by Shriti Vadera, Chair of Prudential plc, who emphasized the Lab’s ongoing focus on five key areas: regulatory and policy certainty, guarantees to manage political and credit risks, foreign exchange risk management, scaling equity investment, and developing an asset class and liquid market to attract institutional capital.
“We welcome the support of our new members as we continue addressing these critical areas,” Vadera added. (Source: IANS)
