IFC invests directly in companies' and financial institutions' equity and also through private equity funds. IFC encourages companies it invests in to broaden share ownership through public listings, thereby deepening local capital markets. FIG's equity strategy supports climate change, digital transformation, and financial inclusion, and plays a key role in mobilizing equity from other investors. FIG's equity investments encompass all regions and include commercial banks, non-banking financial institutions, microfinance institutions, and insurance companies. FIG equity investments in financial institutions have largely been in transition economies with bank privatizations and transformations, crisis response investments, and with a focus on financial inclusion. IFC is increasingly prioritizing equity investments as central to the WBG's broader efforts to meet the Sustainable Development Goals.