The World Bank Group on Monday launched  Philanthropy Hub, a platform designed to bring together wealthy donors, charity foundations and other partners and connect them with projects aimed at improving the lives of people in vulnerable communities.

The hub was launched at the inaugural World Bank Group Philanthropy Forum in Bangkok, Thailand, during the World Bank Group-IMF Annual Meetings, attended by more than 200 leaders from philanthropic foundations.

According to a statement by the World Bank, the hub will serve as a central entry point for philanthropic organisations seeking opportunities to support development initiatives through funding.

The statement noted that organisations are already contributing to World Bank Group initiatives, including Mission 300, Health Works and Water Forward.

“As development needs grow and resources come under pressure, partnership matters more than ever,” said Paschal Donohoe, managing director and chief knowledge officer at World Bank Group. “Philanthropic organisations bring deep expertise and innovative solutions that align closely with our core missions and jobs agenda.”

Mr Donohoe said the hub would connect ideas, resources, and partners to scale up solutions that benefit people and communities worldwide.