The World Bank Group is a source for financial and technical assistance to developing countries through low interest loans, grants and interest-free credits. In Fiscal Year 2012, the World Bank's Air Transport Portfolio included nearly 30 projects or project components in all six World Bank regions, as well as 20 active International Finance Corporation (IFC) investments and several advisory mandates, with a total volume of 1,25 billion USD.
A particular highlight of 2012 has been the approval of the $125 million USD regional Pacific Aviation Investment Program (PAIP) in the South Pacific to improve operational safety and oversight of international air transport infrastructure in the region. The focus of the first phase of the regional program is in Tonga, Kiribati and Tuvalu, while possible subsequent phases will focus on Vanuatu, Samoa and Solomon Islands. The World Bank also continues its active engagements in all other regions, particularly in Africa commitments to Tanzania and Sierra Leone were recently approved.