Emerging Markets Securitization Program (EMSP)

The Emerging Markets Securitization Program (EMSP) packages high-quality IFC-originated loans into tradable securities, giving institutional investors an opportunity to access a globally diversified portfolio of emerging market assets.

In 2023, the World Bank Group launched the Private Sector Investment Lab (PSIL), bringing together 15 of the world’s leading CEOs to identify barriers to private sector investment and test practical solutions. One of the solutions that emerged from the PSIL is originate-to-distribute (OtD). The aim is to move to larger, packaged securities that attract institutional investors such as pension funds, asset managers, and insurance companies.

In September 2025, the World Bank Group, through its private sector arm, the International Finance Corporation, closed its inaugural OtD transaction under EMSP. A second transaction closed in June 2026, bringing total issuance under the program to more than $1 billion.

The portfolio comprises globally diversified, IFC-originated loans to 119 borrowers across multiple industries and regions. The familiar CLO structure provides a standardized and scalable channel for investors seeking emerging market exposure aligned with their risk–return appetite.

The EMSP underscores the World Bank Group’s commitment to mobilizing private capital for development and represents a major step forward in transforming how development finance attracts private investment.