This is the year, calendar or fiscal, that the project was approved for funding. The World Bank's fiscal year begins July 1st and ends June 30th. The full date will appear in the Search Results and Project Details; searching is by year only. Results may also be sorted by Approval Date.
Most projects are approved by the World Bank's Board of Directors. In the case of the Adaptable Lending, and Learning & Innovation loans, the World Bank's senior management approves the project, not the Board of Directors. Following approval, the loan or credit agreement is submitted to whatever final process is required by the borrowing government. For example, agreements may have to be ratified by a country's legislature. The process may last up to several months. If the outcome is positive, the loan or credit is declared effective, disbursement may begin, and the agreement is made available to the public.
For more information, see the Project Cycle or Project Status.