Initiation Stage

The Initiation Stage, whose goal is to identify operations that may enter the Bank’s Operation Cycle, includes the following sequential steps:
  • Identification of the operation
  • Eligibility Review
  • Clearance of the operation’s concept by the Credit Committee


The Bank accepts proposals from public agencies, private sector firms, and other entities, including special purpose companies, financial institutions and non-governmental agencies. The Eligibility Review will determine whether an operation’s objectives and benefits are consistent with the Bank’s main eligibility criteria specified in the Establishing Agreement and in the Rules and Regulations for Financing Projects and Commercial Activities. 


Upon approval of the Eligibility Review, the Operation Leader will request from the relevant Bank departments and units the provision of all necessary support in a timely manner in order to prepare the Concept Clearance Document (CCD), which includes preliminary information on the operation’s feasibility and consistency with the Bank’s mandate, country and sector strategy. The CCD has a validity period of nine months.


Following CCD approval by the Bank’s Credit Committee, the Operation Leader will send to the client a formal letter, the Mandate Letter, confirming the Bank’s interest in considering the financing request and establishing that the costs incurred by the Bank will be paid for or reimbursed by the client, regardless of whether the Bank proceeds with the client’s financing or not.


Until the CCD is approved and the Mandate Letter (Request Letter for public sector operations) is signed, the Bank will refrain from devoting substantial resources for the preparation of an operation.