De-risking investment for sustainable development: The role of development banks and emerging donors

Amelia U. Santos-Paulino, Prachi Sharma and Claudia Trentini

No wp-2026-64, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Development finance institutions (DFIs) play a central role in financing infrastructure for sustainable development, yet their effects on project‑level risk allocation and private capital mobilization remain imperfectly understood. This paper examines how different DFIs and financial instruments shape project risk and the dynamics of private investment across developing economies. We use project‑level data from the London Stock Exchange Group covering 24,640 infrastructure finance deals worldwide over the period 1990-2025, of which 9,597 projects are in developing countries.

Keywords: Development finance; Finance infrastructure; Public-private social partnership; Finance; Development banks; Traditional and emerging donors; Sovereign risk (search for similar items in EconPapers)
Date: 2026
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