Instruments | Description | Type of beneficiaries | Date of introduction |
Equity Funds | Provision of risk capital (usually equity) to specialized operators (equity funds) to invest in enterprises. | Non-Sovereign Organizations | 1971 |
Equity Participations | Acquisition of equity in the capital of financial institutions and/or provision of debt that can be assimilated to capital (subordinated debt). This strengthens the capital base of financial intermediaries so as to allow an expansion of their operations | Non-Sovereign Organizations | 2007 |
Guarantees | Instruments to allow a reduction of the risk borne by intermediaries, who in case of default can recoup (part of) their loss. | Sovereign and Non-Sovereign Organizations | 1998 |
Lines of Credit | Provision of credit to financial institutions or national or regional development finance institutions for on-lending for specific projects, often for SMEs. | Sovereign and Non-Sovereign Organizations | 1969 |
Risk Participation | Operations allowing the beneficiary intermediary to ‘sell’ its exposure to the Bank to reduce its financial risk exposure. | Non-Sovereign Organizations | 2013 |
Sector Policy-Based Operations (PBOs) | Operations to provide budgetary support to countries or regions combined with institution/capacity building and a platform for continuous policy dialogue to support policy reforms. | Sovereign Organizations | 2011 for PBO dedicated to the financial sector |
Trade Finance Lines of Credit | Provision of credit to financial institutions dedicated to trade finance, usually with shorter tenor than the conventional line of credit. | Sovereign and Non-Sovereign Organizations | Trade finance program introduced in 2013 (successor to the Trade Finance Initiative launched in 2009) |
Technical Assistance/Grants | Provision of grants to fund TA to borrowers. Refers to institutional building and project cycle loan and grant operations. As from 1996, TA is provided on a grant basis only. | Sovereign and Non-Sovereign Organizations | Over time |