Should the WBG be in the guarantee business?

Guarantee instruments have been largely effective in supporting WBG strategic objectives. Across the WBG, guarantees have effectively promoted private investment. Guarantees have supported investment flows across a broad range of high-risk sectors and countries and for small and medium-size investments. More than 30 percent of IFC guarantees have been used to support trade and investment flows in Africa. 

The WBG's additionality in risk mitigation derives from its relationship with governments and its contribution to broader development objectives. Each institution has issued a substantial proportion of its guarantees in high-risk countries. World Bank guarantees have helped further both policy reforms and the environment for private investment. IFC guarantees have supported financial innovation and capital market development by introducing new financial instruments to new classes of investors.

Also see: 
 Have WBG guarantees been used to potential? 
 Is the WBG appropriately organized to deliver the range of guarantee products?