Tanzania, March 1 -- Dar es Salaam. The World Bank Group has announced a major overhaul that seeks to triple annual guarantee issuance to $20 billion by 2030.

The reforms, which are supported by chief executives and the G20 expert group, aim to deliver simplicity, improved access and faster execution through a new and convenient marketplace.

Currently, the World Bank Group offers 20 guarantee solutions spread across the institution. Each comes with different processes, rules and standards. Ultimately, this holds back their potential and impedes client access.

The Private Sector Investment Lab, launched by the World Bank Group in June 2023, was created to identify barriers and potential solutions to renewable energy investment.

Politic...