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The World Bank offers several product lines to its clients - some primarily funded by grants and some by loans. The loans are offered via two basic types of lending instruments - development policy and investment.

Carbon Offsets - The world's first market-based mechanism to address climate change and promote the transfer of finance and climate-friendly technology to developing countries. For more information, see the Prototype Carbon Fund.

Debt Reduction Facility
 - The Debt Reduction Facility for IDA-Only Countries was established in 1989 to assist low-income countries in reducing their commercial debt. It was funded with a US$300 million transfer from IBRD's net income. For more information, see the IDA Debt Reduction Facility.

GEF Medium - Global Environment Facility (GEF) Medium-Sized projects have GEF financing no more than $1 million, and are considered by the GEF Council and Implementing Agencies under expedited procedures, intended to move them quickly from the concept stage to approval of the GEF grant. The smaller size grants and the projects they finance are creating opportunities for a range of new project proposers to access GEF resources and contribute to the international effort to protect the global environment. For more information, see the Global Environment Facility.

Global Environment Projects - These are projects under implementation, excluding the Medium-Sized projects. The World Bank plays two important roles in the Global Environment Facility (GEF). First, with its long experience in funds management, the Bank was selected as trustee of the Global Environment Facility Trust Fund. Second, the Bank is a GEF Implementing Agency, and plays the primary role in ensuring the development and management of GEF investment projects. About two-thirds of all project-related GEF resources are allocated to the World Bank's GEF portfolio. The portfolio of projects under implementation includes projects directly managed by the Bank, as well as those managed by the International Finance Corporation, the Inter-American Development Bank, and the Asian Development Bank. For more information, see the Global Environment Facility.

Guarantees - The World Bank's Guarantee instrument was formally mainstreamed in 1994 to address the growing need to offer political risk mitigation products to commercial lenders contemplating financial investment in the infrastructure sectors of developing countries. The Bank's fundamental objective in offering guarantees is to mobilize private capital for such projects on a "lender of last resort" basis. At present, the Bank offers three basic types of guarantees. Partial credit guarantees cover debt service defaults on a specified portion of a loan or a bond. Such guarantees allow public sector projects to extend maturities and lower spreads. Partial risk guarantees cover debt service defaults on a loan to a private sector project caused by a government's failure to meet its contractual obligations related to a private project. Policy based guarantees cover a portion of debt service on a borrowing by an eligible member country from private foreign creditors in support of agreed structural, institutional, and social policies and reforms. For more information, see The Guarantee Program.

IBRD/IDA - This product line refers to regular IBRD/IDA lending and represents the majority of the World Bank's lending portfolio. Whether the funding source is IBRD, IDA or mixed depends on the country's eligibility for borrowing (refer to the Annual Report). Within this portfolio, there are two basic types of lending instruments: investment loans and adjustment loans. Investment loans have a long-term focus (5 to 10 years), and finance goods, works, and services in support of economic and social development projects in a broad range of sectors. Adjustment loans have a short-term focus (1 to 3 years), and provide quick-disbursing external financing to support policy and institutional reforms. Both investment and adjustment loans are used flexibly to suit a range of purposes, and are occasionally used together in hybrid operations.

Montreal Protocol - The World Bank is one of four implementing agencies (along with UNDP, UNIDO and UNEP) for the Multilateral Fund for the Implementation of the Montreal Protocol (MP). The Montreal Protocol Operations Unit staff at the World Bank coordinates the efforts of other World Bank staff and local partners to assist countries to meet their obligations under the Montreal Protocol. The World Bank works with local government and financial agency partners to enable national execution of Ozone Depleting Substances (ODS) phaseout activities. For more information, see the Montreal Protocol.

Rainforest - The Rain Forest Trust Fund (RFT) was established in 1992 by the Bank's Executive Directors and associated bilateral donors. All funds are grant funds directed toward a set of integrated projects aimed at slowing down the deforestation/conversion of the Amazon rain forest, protecting biodiversity, reducing carbon emissions, and promoting sustainable use and development in the Amazon region. The projects share similar objectives of: (i) strengthening the capacity of public sector institutions responsible for managing and protecting the rain forest, its inhabitants, and natural resources; (ii) improving management of protected areas; (iii) strengthening the information base on Amazonian natural resources; and (iv) promoting sustainable and environmentally friendly technologies and practices for their use and development. For more information, see Pilot Program to Conserve the Brazilian Rain Forest. 

Institutional Development Fund, HIPC Transfer - Data for these product lines is not yet available. They are included in this picklist for use by World Bank staff who share the advanced search screen to search internal systems.




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