The Bank has two basic types of lending instruments: investment loans and development policy 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. Development policy 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 development policy loans are used flexibly to suit a range of purposes, and are occasionally used together in hybrid operations.
For more information about lending instruments currently in use, please see Financing Instruments.
Operational Policy 8.60 governs Development Policy Loans. This policy applies to suitable lending instruments for which a concept review takes place on or after September 1, 2004. Previously, a variety of instruments were collectively referred to as Adjustment Lending and governed by Operational Directive 8.60, plus other related statements. The list of Lending Instruments in the Advanced Search includes all variations of lending instruments before and after this policy change.
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