Turkey and the Republic of Korea, for example, once IDA borrowers, are now donors. Other contributors include Australia, Austria, Belgium, Canada, Denmark, Finland, Greece, Iceland, Ireland, Italy, Kuwait, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Saudi Arabia, Spain, Sweden, and Switzerland . The second mode of cooperation is through the cofinancing of Bank-supported projects. Cofinancing refers to any arrangement under which World Bank funds or guarantees are associated with funds provided by third parties for particular projects or programs. Although the Bank can and does assist donors in arranging cofinancing, the decision to pursue cofinancing is made by the recipient.
Donors can provide joint or parallel cofinancing.
Under parallel cofinancing the Bank and the cofinancier finance different goods and services and normally administer procurement separately. Most cofinancing is provided on a parallel basis. Under either form of cofinancing the Bank can provide a variety of services. A cofinancier may also choose to disburse funds from its own accounts, while relying on the Bank for other financial and administrative services, such as the supervision of procurement and the review of withdrawal applications. Where the Bank provides a service, it charges a fee to the cofinancier.