Private and public sector sponsors of infrastructure, industrial and other commercial projects in developing countries are looking increasingly to the project finance structure to fund these operations. The World Bank has an array of financial instruments to support these projects. This paper serves as an introductory working tool for World Bank staff and professionals outside the Bank who are interested in the role of the World Bank in this area. It provides an overview of World Bank support to these operations, and describes some of the underlying legal, structural, and policy issues that affect World Bank involvement in these projects. The paper also outlines the support provided by the International Finance Corporation and the Multilateral Investment Guarantee Agency, affiliates within the World Bank Group.