Finance, Competitiveness & Innovation

About Finance, Competitiveness & Innovation Global Practice (FCI GP)

The World Bank Group’s Finance, Competitiveness & Innovation Global Practice (FCI) combines expertise in the financial sector with expertise in private sector development to foster private-sector led growth and help create markets in client countries.

Through this work, FCI strengthens the World Bank Group’s evolving approach to development finance: to maximize finance for development and to leverage private sector investments for sustainable and inclusive growth.

Globally, FCI leads the institution’s dialogue on financial sector policies and private sector development, as well as engagement with various standard-setting bodies, such as the G20, Financial Stability Board, the UN, etc.

Within countries, FCI works with governments to create an enabling environment where financial stability, access to finance and risk management provide a foundation to crowd-in private sector investment, create capital markets, and accelerate equitable growth.

At the same time, the practice is focused on identifying firm- and industry-level constraints to deliver reforms which can drive growth and accelerate job creation (including access to finance, innovation, special economic zones, industry solutions, entrepreneurship, etc.). Boosting firm-level efficiency and productivity centers on adopting better technologies, including digital ones.

FCI comprises close to 800 staff working across more than 120 countries.

The Practice focuses on six thematic areas:

  • Financial Stability & Integrity (ensuring countries’ financial systems are stable, sound and transparent)
  • Financial Inclusion, Infrastructure & Access (strengthening market infrastructures, and ensuring households and firms have access to financial services)
  • Firm Capabilities & Innovation (creating the enabling environment for businesses to be competitive, efficient and cutting-edge)
  • Long-Term Finance (helping countries deepen and diversify their financial sectors, facilitating long term finance through capital markets, and strengthening the role of institutional investors)
  • Climate & Risk Management (supporting countries to become more resilient and able to mitigate the impact of natural disasters combining financial and insurance tools)

Global Directors

Jean Pesme

Global Director of Finance


Washington D.C.
Elizabeth Price

Competitive Industries and Innovation Program (CIIP)
CIIP aims to enhance economic growth, propel the creation of jobs, and maximize client countries' capacity to design and implement pro-growth investments by helping shape public policies and project design.

Consultative Group to Assist the Poor (CGAP)
Develops innovative solutions through practical research and active engagement with financial service providers, policy makers, and funders to enable approaches at scale to advance financial inclusion. 

Disaster Risk Financing and Insurance (DRFI)
Seeks to develop and implement comprehensive financial protection strategies to improve the financial resilience of governments, businesses, and households against natural disasters.

Financial Sector Advisory Center (FinSAC)
FinSAC offers global knowledge to help develop and disseminate good practices that can enrich regional policy debates and cross-fertilize reforms. 

First Initiative
FIRST aims to support economic growth and poverty reduction in low- and middle-income countries by promoting robust and diverse financial sectors.

Financial Sector Assessment Program (FSAP)
Provides a comprehensive framework through which assessors and authorities in participating countries can identify financial system vulnerabilities and develop appropriate policy responses.

Global Index Insurance Facility (GIIF)
Facilitates access to finance for smallholder farmers, micro-entrepreneurs, and microfinance institutions through the provisions of catastrophic risk transfer solutions and index-based insurance in developing countries. 

Oversees a global network of business incubators and innovation hubs for climate technology, agribusiness, and digital entrepreneurs. 

Reports on the Observance of Standards and Codes (ROSC)
Aims at promoting greater financial stability, both domestically and internationally, through the development, dissemination, adoption, and implementation of international standards and codes.

Stolen Asset Recovery Initiative (StAR)
Works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitate more systematic and timely return of stolen assets.