The World Bank Financing Instruments

The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries. The World Bank Group has set two goals for the world to achieve by 2030: end extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than 3% and promote shared prosperity by fostering the income growth of the bottom 40% for every country.

• Investment Project Financing provides IBRD loan, IDA credit/grant and guarantee financing to governments for activities that create the physical/social infrastructure necessary to reduce poverty and create sustainable development. Development Policy Financing provides IBRD loan, IDA credit/grant and guarantee budget support to governments or a political subdivision for a program of policy and institutional actions to help achieve sustainable, shared growth and poverty reduction. Program-for-Results links disbursement of funds directly to the delivery of defined results, helping countries improve the design and implementation of their own development programs and achieve lasting results by strengthening institutions and building capacity.
• Trust funds and grants allow scaling up of activities, notably in fragile and crisis-affected situations; enable the Bank Group to provide support when our ability to lend is limited; provide immediate assistance in response to natural disasters and other emergencies; and pilot innovations that are later mainstreamed into our operations. Private sector options for financing, direct investment and guarantees are provided by MIGA and IFC. Guarantees can also be provided through World Bank (IBRD/IDA) for private sector projects.
• Multiphase Programmatic Approach allows countries to structure a long, large, or complex engagement as a set of smaller linked operations (or phases), under one program. It can be applied to Investment Project Financing and Program-for-Results and is not a stand-alone instrument.

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