Panetta backs development finance but warns of private-capital risks
Bank of Italy Governor Fabio Panetta backed World Bank Group (WBG) reforms at the 114th Development Committee meeting in Bangkok on October 15, 2026. He urged investment in skills, health and AI while warning that private-capital mobilization adds risks.
Skills and infrastructure unlock AI
Panetta cited the 2026 World Development Report estimate that widespread AI adoption could raise potential growth in emerging and developing economies by 0.8 percentage points annually.
He urged investment in digital and energy infrastructure, human capital and impact evaluation.
He backed Global Skill Partnerships, citing Italy's cooperation with Tunisia and Ethiopia, and supported the Education and Skills Implementation Plan.
Health priorities included National Health Compacts, AIM2030 manufacturing in Africa and Day Zero Financing for emergencies, citing Ebola in the Democratic Republic of Congo.
He welcomed extending the Climate Change Action Plan and selective nuclear re-engagement with the International Atomic Energy Agency under the highest safety standards.
Private capital needs public safeguards
Panetta backed standardized investable development assets, risk-absorbing equity and local-currency finance, but warned of financing and implementation risks.
He urged preserving countercyclical lending to low-income and fragile countries.
He welcomed two-year subscription extensions for the International Bank for Reconstruction and Development and International Finance Corporation.
He backed the Lima Principles for the 2030 Shareholding Review, IDA21's mid-term review and IDA22 replenishment, and urged procurement monitoring against subsidized, anti-competitive bids.
Country priorities remain the anchor
Panetta tied Italy's Mattei Plan to energy access, water security and debt sustainability in Africa.
He cited Mission 300, Water Forward and RISE alongside coffee, agriculture and research partnerships.
His support for Ukraine's recovery and reconstruction retained coordination with donors and financial institutions.