The World Bank said Thursday it attracted $112 billion of private capital in 2026, a 62 percent increase from last year, as the development organization increasingly turns to private investors to finance projects in developing countries.

The effort has been a priority for World Bank president Ajay Banga, who has shifted the organization's ambitions toward infrastructure and job creation under President Trump. Private investment has nearly tripled over three years since Mr. Banga assumed leadership.

The bank has expanded investment by tapping pension funds and companies like Nestlé, General Motors, and asset managers such as Black Rock. However, nearly half the money, about $50 billion, went to upper-middle income countries, while low-income countries received just $3 billion.

"We're somewhat skeptical of the development impact of this money," said Álvaro González of the Center for Global Development. Treasury Secretary Scott Bessent said the World Bank must focus on dependable technologies sustaining economic growth rather than climate finance targets.