The World Bank funds two basic types of operations: investment operations and development policy operations. Investment operations provide funding (in the form of IBRD loans or IDA credits and grants) to governments to cover specific expenditures related to economic and social development projects in a broad range of sectors. Development Policy operations provide untied, direct budget support to governments for policy and institutional reforms aimed at achieving a set of specific development results.
A major effort is currently underway to reform the Bank’s investment lending model - the Investment Lending Reform Concept Note was discussed at the Bank's Board in February 2009 - so that it responds better to borrowers’ needs and the changing global environment. Investment Lending reform will provide clients more flexible instruments, a faster response time and better development outcomes.
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