Cofinancing

Summary of Cofinancing

An arrangement whereby commercial banks and official lending institutions participate in World Bank financing of development projects in Third World countries. The World Bank acts as lead manager for the loan and provides partial funding from its own resources; commercial banks and official lenders provide the balance of the funding. By means of this scheme the World Bank effectively expands its resources available for development. During Fiscal Years 1982-84 cofinancing added over five billion dollars to World Bank funding of development projects. World Bank Cofinancing Operations

Fiscal 1980-84 (in millions U.S. dollars)

Period Official Export

Credit Private Total

1980-82 2,140 1,431 1,510 5,081

1981-83 1,846 1,770 1,376 4,991

1982-84 1,967 1,961 1,373 5,302

Cogsa. See Carriage of Goods by Sea Act.

(Main Author: William J. Miller)