World Bank Group Prepares Major Overhaul to Guarantee Business

WASHINGTON, February 28, 2024 –

The World Bank Group today announced a major overhaul to its guarantee business that will deliver simplicity, improved access, and faster execution through a new, convenient marketplace.  The new reforms are critical to achieving the goal of tripling annual guarantee issuance to $20 billion by 2030. 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. Political risk insurance emerged as a key area of interest among the group, which also raised issues with accessibility. 

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ABOUT WORLD CERTIFICATION INSTITUTE (WCI)

World Certification Institute (WCI) is a global certifying and accrediting body that grants credential awards to individuals as well as accredits courses of organizations.

During the late 90s, several business leaders and eminent professors in the developed economies gathered to discuss the impact of globalization on occupational competence. The ad-hoc group met in Vienna and discussed the need to establish a global organization to accredit the skills and experiences of the workforce, so that they can be globally recognized as being competent in a specified field. A Task Group was formed in October 1999 and comprised eminent professors from the United States, United Kingdom, Germany, France, Canada, Australia, Spain, Netherlands, Sweden, and Singapore.

World Certification Institute (WCI) was officially established at the start of the new millennium and was first registered in the United States in 2003. Today, its professional activities are coordinated through Authorized and Accredited Centers in America, Europe, Asia, Oceania and Africa.

For more information about the world body, please visit website at https://worldcertification.org.