World Bank Group Partners with Global Insurers to Expand Access to Finance in Emerging Markets through $6 Billion Facility

Washington D.C., February 24, 2026-The World Bank Group has launched a new insurance-backed facility to expand lending to small and medium-sized businesses in emerging markets, supporting job creation and private sector growth.

Under the facility, participating insurers share credit risk on a portion of eligible loans made by IFC, the World Bank Group's private sector arm, freeing up capital so IFC can lend more to commercial banks and other financial institutions. The facility allows IFC to mobilize private credit insurance and expand access to finance for micro, small and medium-sized enterprises (MSMEs), which make up over 90 percent of all firms and account for around 70 percent of total employment.

The $6 billion credit insurance policy-signed by IFC and a consortium of 19 global insurance companies-will support up to $10 billion in new IFC lending.

"Small and medium-sized businesses are the engine of job creation, yet many in emerging markets still struggle to access the financing they need to grow," said Makhtar Diop, IFC's Managing Director. "This facility shows how the World Bank Group is partnering with global insurers to expand lending to businesses in emerging markets-while giving insurers the opportunity to support economic growth and diversify their portfolios."

The transaction is IFC's largest mobilization under a single agreement and is one of the largest credit insurance facilities arranged to date by a multilateral development institution.

The insurers who have partnered with IFC in the facility include: AIG , Allianz Trade, Arch Insurance International, AXA XL (XL Bermuda), AXIS Capital, Chubb, Convex Group, Everest , HDI Global, Liberty Mutual, Markel Group, MSIG (MSIG USA and Mitsui Sumitomo Insurance), Munich Re, RenaissanceRe, SCOR, Sompo International, Swiss Re, The Hartford, Tokio Marine (HCC International Insurance Company and Tokio Marine & Nichido Fire Insurance Company)

By participating in the program, insurers benefit from IFC's due diligence to assess projects, reducing the costs and delays associated with individual reviews in emerging markets and benefit from a streamlined, efficient deal origination process. This draws in insurers to support businesses even in regions they are less familiar with, thus marshaling more resources for development.

The transaction marks IFC's fifth under the Managed Co-Lending Portfolio Program (MCPP) for credit insurers, bringing the total mobilization under the program to $15.5 billion. Since its launch in 2017, MCPP for credit insurers has expanded from a $1 billion facility with two insurers into a multi-billion-dollar platform with multiple participating insurers.

This facility is part of IFC's broader MCPP initiative-a key platform for mobilizing private capital into emerging markets, including in the World Bank's International Development Association (IDA) countries and fragile and conflict-affected situations (FCS). With this latest iteration, MCPP has grown to $25.5 billion in funds and credit risk capacity to support IFC's mission.

Quotes from insurers:

"The MCPP program demonstrates how public and private capital can come together at scale to strengthen financial resilience in emerging markets," said Daniel Riordan, Head of Political Risk and Trade Credit, MSIG USA. "MSIG USA is proud to join IFC and other leading global insurers in advancing this landmark, portfolio-based facility built on IFC's credit expertise. Partnerships of this scale underscore the meaningful role insurers can play in expanding access to finance and supporting sustainable economic growth."

"We are proud to partner with IFC in this innovative program, combining their unmatched regional footprint with the robust credit quality and deep capacity of the private insurance market to bridge critical financing gaps in emerging markets," said Ed Cornish, Head of Credit & Political Risk, Arch Insurance International. "Through our participation, we are dedicated to supporting the resilience of local financial systems and providing the long-term stability required to drive sustainable economic growth and financial inclusion across the globe."

"The program underscores the strength of our long-standing partnership with IFC and the continued evolution of the Managed Co-Lending Portfolio Program," said Jim Thomas, Global Head of Credit and Political Risk at Everest Insurance. "The program allows insurers to efficiently deploy capacity on a diversified, high-quality portfolio while supporting IFC's mission to expand access to finance for financial institutions and MSMEs across emerging markets. This latest iteration of such a groundbreaking structure confirms that this is a repeatable, scalable platform for mobilizing private capital at scale and we are honored to continue our support."

"HDI's participation in the programme underscores our commitment to advancing innovative risk-sharing programmes that help unlock greater lending capacity in emerging markets," said Simon Hunt, Chief Executive Officer, HDI Global UK & Ireland. "IFC's proven portfolio approach, backed by deep expertise and a long, successful track record, offers insurers an efficient, well-governed platform to deploy capacity at scale. As partner in transformation for clients globally, we are proud to support a programme that empowers financial institutions to expand access to crucial finance for micro, small, and medium-sized enterprises while enabling us to achieve attractive and diversified risk exposure."

"As Convex continues to build strategic relationships, the opportunity to partner with the International Finance Corporation seemed a perfect fit," said Katie Sparkes, Class Underwriter Political and Credit Risks, Convex. "It allows us to broaden our portfolio with a strong partner in the sector."