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What are Green Bond eligible projects?

Examples of World Bank Green Bond eligible projects

Efficient lighting and appliances program

  • Objective: Mitigate climate change by reducing Green House Gas (GHG) emissions through increasing use of energy efficient technologies in residential lighting, refrigerators and air conditioning.
  • Target outcomes: Reduce CO2 emissions by more than 3.32 million tons over 5 years – equivalent to taking 700,000 cars off the road1.

Water resources and irrigation management program

  • Objective: Improve climate resilience of water resources and food production through improved water basin resource and irrigation management and increased irrigated agriculture productivity.
  • Target outcomes: 500,000 farmer households benefit from increased crop productivity because of more efficient and reliable irrigation.

Eco-farming project

  • Objective: Mitigate climate change by reducing GHG emissions through converting methane from livestock wastes into biogas fuel in order to meet everyday energy needs of farming households.
  • Target outcomes: Reduce CO2 emissions by nearly 1 million tons annually – equivalent to taking 190,000 cars off the road each year 1.

 1 Calculated using the Environmental Protection Agency (EPA) Greenhouse Gas Equivalency Calculator at

For more information on the projects supported by World Bank Green Bonds, please visit the website

The above examples of Mitigation Projects and Adaptation Projects are for illustrative purposes only and no assurance can be provided that disbursements for projects with these specific characteristics will be made by the World Bank during the lifetime of the securities.

What type of projects are eligible?

  • Like all World Bank projects, green projects are designed to reduce poverty and improve local economies. Green Bond eligible projects are a subset that focus on climate change issues that directly impact developing countries and address the global climate challenge.
  • The Project Selection Criteria are applied to screen projects resulting in a list of eligible mitigation and adaptation projects.
    • Mitigation of climate change projects:
      Solar and wind installations, funding for new technologies that permit significant reductions in greenhouse gas emissions, rehabilitation of power plants and transmission facilities to reduce greenhouse gas emissions, greater efficiency in transportation, including fuel switching and mass transport, waste management and construction of energy-efficient buildings, carbon reduction through reforestation and avoided deforestation.
    • Adaptation to climate change projects :
      Protection against flooding, food security improvement and implementing stress-resilient agricultural systems (which slow down deforestation), sustainable forest management and avoided deforestation.

How are eligible projects selected?

  • All projects supported by the World Bank undergo a rigorous review and approval process to ensure that the projects meet client countries’ development priorities.
    • The process includes early screening to identify potential environmental or social impacts and designing policies and concrete actions to mitigate any such impacts.
    • Every World Bank project is approved by its Board of Executive Directors – a resident Board with 25 chairs representing its member countries.
  • Environmental specialists then screen approved World Bank projects to identify those that also meet the Green Bond eligibility criteria.

What proportion of the Green Bonds proceeds are allocated to these projects?

100% of the proceeds are allocated to Green Bond eligible projects:


  • Proceeds are credited to a separate account and are invested in accordance with the World Bank’s conservative liquidity policy until used to support the financing of eligible projects.
  • Disbursements are typically made over a period of several years, depending on when each project milestone is reached.
  • As disbursements are made for Green Bond eligible projects, corresponding amounts from the account are allocated to the general lending pool periodically and at least on a quarterly basis.

How are the projects’ impact evaluated?

The World Bank supervises the implementation of all projects:


  • Regular reports by the implementing government agency on project activities.
  • Mid-term review of project progress.
  • Outcomes and impacts are monitored by the government agency and the World Bank throughout the implementation phase, data is collected to measure the ultimate effectiveness of the project in terms of the objectives it was set to achieve.
  • The World Bank’s Independent Evaluation Group (IEG) assesses the performance of about one out of four projects, measuring outcomes against original objectives, sustainability of results and institutional development impact.


Energy saving


Pollution reduction


CO2 emissions reduction


Water saving/access


Living conditions improvement


Crop improvement

How can I follow the impact of my investment?

  • Green Bond eligible projects are listed on the World Bank Green Bond website1, including summaries about the projects and key impact indicators.
  • It also has links to the detailed project information that is available on the World Bank website2.