This shift is embedded in our new 2026–31 Strategy, which recognises mobilisation as a core lever for economic growth. During 2025, we focused on building the foundations for this approach: testing new structures, strengthening partnerships with private investors and deepening our understanding of what works.
A key part of this work was contributing to the global evidence base on mobilisation. During the World Bank Annual Meetings, we published new analysis examining how multilateral development banks and DFIs can scale private capital mobilisation more effectively. Drawing on lessons from across the sector, the work highlights where concessional finance, risk-sharing and fit-for-purpose investment structures can play a catalytic role, and where expectations of mobilisation need to be realistic and context-specific.
We also made progress in mobilising both international and domestic capital. We continued engagement with private investors in 2025, including through a competitive call for proposals designed to source innovative investment strategies capable of crowding in institutional capital at scale. In 2025, we announced the first winner of the competition, which saw BII partner with BlueOrchard, as an anchor investor in a new fund specifically designed to unlock insurance capital to combat the climate emergency in emerging markets.
Outside of the competition, we advanced mobilisation through blended finance, backing a range of investments designed to crowd in private capital. Our anchor investment in the Allianz Credit Emerging Markets (ACE) fund helped to mobilise $540 million from commercial investors at first close. We also deepened our partnership with Pentagreen through a commitment to the Green Investment Partnership, a blended finance vehicle within the Financing Asia’s Transition Partnership (FAST-P). Our commitment is helping to de-risk the fund’s capital structure and crowd in additional private investment for climate projects across Asia.
At the same time, we strengthened our focus on domestic capital mobilisation, recognising the critical role that local institutional investors can play in building resilient financial ecosystems. In Zambia, for example, we partnered with the national pension fund alongside other investors to launch Growth Investment Partners Zambia, a long-term investment platform designed to channel patient capital into local SMEs. Other examples include our strategic partnership with South Africa's Public Investment Corporation (PIC), Africa's largest asset manager, which has led them to invest alongside us in the Enko Impact Credit Fund.
