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World Bank unveils $510m deal to boost investments

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10 months ago

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The World Bank Group, through its private sector arm, the International Finance Corporation, has completed its first securitisation transaction, marking a milestone in the global effort to channel private institutional capital into emerging markets.

In a statement sent to Saturday PUNCH, the lender disclosed that the $510m collateralised loan obligation represents the first tangible step in IFC’s broader strategy to establish an “originate-to-distribute” model for investments in developing economies.

The transaction involves repackaging IFC’s loan portfolio into rated securities, thereby creating a new asset class that meets the risk and return requirements of global institutional investors, including pension funds, insurance companies, and asset managers.

According to IFC, this approach is expected to unlock access to the world’s largest pools of capital while freeing up its balance sheet to finance additional projects across developing countries.

World Bank Group President, Ajay Banga, said the initiative underscores the institution’s ambition to mobilise private investment at scale, describing it as crucial for long-term economic transformation.

“Mobilising private investment at scale is essential to creating the jobs that give people a ladder out of poverty and begin the journey of changing a family’s trajectory for generations,” Banga said.

“This is step one in an originate-to-distribute strategy that holds significant potential to attract private capital at scale. It also frees up our balance sheet so we can support more countries and more private-sector players. The opportunity and the need are much larger, and so is our ambition.”

The deal has already attracted significant interest from investors and was listed on the London Stock Exchange. It features a $320m senior tranche purchased by private investors, a $130m mezzanine tranche insured by a consortium of credit insurers, and a $60m equity tranche.

Goldman Sachs acted as the arranger for the transaction, which is expected to serve as a scalable and replicable model for future issuances. The World Bank Group said it would continue launching regular issuances under this framework, reinforcing its commitment to building a sustainable pipeline for private-sector participation in development finance.

The structure of the deal is designed to address two critical challenges facing development financing. Firstly, it creates a vehicle that gives institutional investors exposure to emerging market credit opportunities that are typically out of their reach. Secondly, it enables the IFC to recycle capital and expand its lending to high-impact projects in countries most in need of support.

The originate-to-distribute approach was one of the key recommendations of the Private Sector Investment Lab, an advisory body established in June 2023. The Lab was tasked with identifying barriers to private-sector investment in emerging markets and designing practical solutions.

By securitising its portfolio, the IFC is demonstrating how innovative financial instruments can bridge the gap between global investors’ appetite for yield and the financing needs of developing nations.

Development experts note that such initiatives are vital for meeting the massive infrastructure, energy, and social investment requirements of low- and middle-income countries. With public funding and traditional aid flows proving insufficient, attracting private capital has become a cornerstone of the World Bank’s strategy under Banga’s leadership.

Analysts believe the success of this transaction will encourage similar models across other development finance institutions, setting the stage for a broader mobilisation of private capital into regions often overlooked by mainstream markets.

For the World Bank Group, this pioneering securitisation is not only a financial innovation but also a signal of its evolving role—transitioning from being just a lender to becoming a catalyst for large-scale investment flows into developing economies.

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Nigeria Strengthens Maritime Leadership as Fadahunsi Emerges Vice Chairman of Eastern Atlantic Hydrographic Commission

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13 hours ago

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July 12, 2026

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The Hydrographer of the Federation and Chief Executive Officer of the National Hydrographic Agency (NHA), Rear Admiral OO Fadahunsi, has been elected Vice Chairman of the Eastern Atlantic Hydrographic Commission (EAtHC) for the 2026–2028 term, further reinforcing Nigeria’s growing influence in regional and global maritime governance.

Rear Admiral Fadahunsi’s election was confirmed on Friday, 3 July 2026, during the ongoing EAtHC Conference in Abidjan, Côte d’Ivoire, where member states endorsed his emergence to one of the commission’s most strategic leadership positions.

Established on 26 November 1984 under the auspices of the International Hydrographic Organization (IHO), the Eastern Atlantic Hydrographic Commission was founded by France, Nigeria, Portugal and Spain. Over the past four decades, the commission has expanded significantly, comprising 11 member states, 10 associate members and six observers committed to promoting hydrographic excellence across the Eastern Atlantic region.

The commission plays a pivotal role in advancing hydrography, nautical cartography and maritime safety through capacity-building initiatives, the development and implementation of International (INT) Charts and Electronic Navigational Chart (ENC) schemes, improved hydrographic surveys, enhanced charting standards, effective dissemination of nautical information and sustained advocacy on the importance of hydrography to regional maritime development.

Since its inaugural conference in Paris, France, in April 1986, the EAtHC has convened biennially to strengthen collaboration among member states and chart the future of hydrographic development.

In another significant endorsement of Nigeria’s expanding maritime profile, the country has been selected to host the next EAtHC Conference in June 2028. Nigeria will also host the 25th Meeting of the Capacity Building Sub-Committee (CBSC25) and the 19th Meeting of the Inter-Regional Coordination Committee (IRCC19) in June 2027, positioning the country at the centre of major international hydrographic engagements.

Rear Admiral Fadahunsi’s election is widely regarded as a testament to Nigeria’s sustained investment in hydrographic development, maritime safety and regional cooperation. It also reflects growing international confidence in the National Hydrographic Agency’s contributions to safer navigation, marine resource management and the blue economy.

As Nigeria prepares to welcome leading hydrographers, maritime regulators and technical experts from across the world over the next two years, the country is poised to consolidate its reputation as a key driver of hydrographic innovation and maritime security in the Eastern Atlantic region.
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Canada Publishes 2 Official Websites to Find Jobs, Says Over 2,000 Vacancies Are Posted Daily 

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15 hours ago

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July 12, 2026

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Canada has made it easier for unemployed individuals and foreigners who wish to live and work in the country to find jobs that can help them live comfortably and meet their basic responsibilities.

On the official Canadian government website, two links are provided to websites where job seekers can find available jobs in Canada

According to the Canadian government website, applicants who apply for jobs through these platforms can get hired by different companies, as more than 2,000 jobs are posted every day.

Aside from these two websites, the Canadian government explains that individuals can also use employment agencies to help them find jobs that match their skills.

A job seeker can also ask friends or family members if there are job openings or vacancies, as not all positions are advertised on these websites.

1. Job Bank

The Canadian government explains that thousands of jobs are advertised on this platform every day by organisations and companies. The link to access the website can be found in the detailed post published on the Canadian government website.

2. Jobs GC

Another website where foreigners who wish to work in Canada or Canadian citizens can find government jobs is the Jobs GC website. Federal public service jobs are advertised on the website, alongside several other opportunities that may match an applicant’s skills.

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Business

BREAKING: Marketers Increase Fuel Prices Nationwide, as US-Iran War Escalates,  New Rates Emerge 

Published

21 hours ago

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July 12, 2026

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Fresh petrol prices have emerged across major depots in Nigeria as marketers adjusted rates upward in response to growing uncertainty in the global oil market following renewed hostilities in the Middle East.

The latest pricing released shows that several depot operators have increased the ex-depot cost of Premium Motor Spirit (PMS), popularly known as petrol, amid concerns that escalating tensions between the United States and Iran could disrupt global crude oil supplies.

Industry observers say the adjustments are largely precautionary, with marketers seeking to cushion the impact of any sharp rise in international crude prices should the crisis worsen.

The fresh increase comes after tensions flared in the Gulf region, with Iran announcing the closure of the strategic Strait of Hormuz following the expiration of its ceasefire arrangement with the United States.

According to reports, Tehran accused a commercial vessel of violating its maritime regulations and carrying out hostile activities, prompting the Islamic Revolutionary Guard Corps (IRGC) to intercept and strike the ship.

The IRGC said the vessel had travelled through an “unapproved route” and had switched off its tracking systems, adding that the Strait of Hormuz would remain closed “until further notice” and until what it described as the end of US interference in the region.

In response, the United States Central Command (CENTCOM) confirmed carrying out military strikes on more than 140 Iranian military targets, including missile launch sites, drone facilities, naval assets, ammunition depots and surveillance infrastructure. Washington said the operation was aimed at protecting civilian and commercial shipping through the strategic waterway.

The latest developments have heightened fears of disruptions to global oil exports, with the Strait of Hormuz serving as one of the world’s busiest energy transit routes.

Data from PetroleumPriceNG indicates that depot petrol prices increased by an average of 0.46 per cent compared to previous rates.

The fresh adjustments signal a departure from the previous benchmark of around N1,075 per litre at several depots.

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