AI adoption can lift developing economies' growth by 0.8 points
Fabio Panetta, Governor of the Bank of Italy, backed World Bank Group (WBG) reforms at the 114th Development Committee meeting in Bangkok on October 15, 2026. He cited AI's growth potential and urged safeguards in private capital mobilization.
Growth requires infrastructure and skills
Citing the 2026 World Development Report, Panetta said widespread AI adoption could raise potential growth in emerging and developing economies by 0.8 percentage points annually.
He called for digital and energy infrastructure, skills investment and rigorous impact evaluation.
Energy, fertilizer and logistics disruptions have fueled inflation and constrained consumption in 2026, especially in economies with limited buffers.
He backed Global Skill Partnerships, citing Italy's cooperation with Tunisia and Ethiopia.
Health priorities included AIM2030 manufacturing in Africa and Day Zero Financing for emergencies.
He supported extending the Climate Change Action Plan and selective nuclear re-engagement with the International Atomic Energy Agency under the highest safety standards.
Private capital meets public safeguards
Panetta backed common project preparation, disclosure and credit-risk standards to create an investable development asset class.
Patient equity and local-currency finance would support investment without increasing external debt.
He welcomed two-year subscription extensions for the International Bank for Reconstruction and Development and International Finance Corporation.
He supported the Lima Principles for the 2030 Shareholding Review, the IDA21 mid-term review and a successful IDA22 replenishment of the International Development Association.
Mobilization has its limits
Panetta warned that private capital mobilization is not always feasible and can add financing and implementation risks.
He urged flexibility across sectors, technologies and countries to preserve development impact.
Countercyclical lending must remain available, especially for low-income and fragile countries, he said.
Source: Statement - meeting of the Development Committee
IN: