Sida, the Swedish International Development Cooperation Agency, is issuing guarantees of SEK 535 million to encourage private investment in developing countries.
Two years ago world leaders promised to end global poverty by 2030 but this will require massive investment in infrastructure such as water, roads and telecommunications, and Sida.
Director General Carin Jämtin believes private capital is needed, if the goal is to be met.
Along with the International Finance Corporation, a sister organisation of the World Bank, Sida will issue guarantees to global insurance businesses Allianz and Prudential. The insurers will then loan the equivalent of SEK 8.6 billion to 20-30 sustainable infrastructure projects in developing countries.
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