The climate-friendly projects could include electricity-generation jobs, transmission plans that promote energy efficiency, mass-transit ventures that reduce the number of vehicles on highways or water projects that deal with climate or resiliency issues. Trade-enabling projects could include ports, highways and rail, he added.

Schwartz said, "We will focus on projects that are complex enough that they require a blend of [financial] instruments … and projects that are potentially commercially viable, such as public-private partnerships, [so] that there would be a reason for institutional investors [and] strategic investors to come in."

The bank said officials already are talking to GIF investor organizations and possible recipient countries about projects that can lift economies, increase jobs and benefit the poor.

Kim said, "Infrastructure is the backbone of a country. Boost infrastructure and do it right, and you can generate jobs and boost economic growth."

The bank released a list of 25 initial participants in the GIF, and Schwartz said the list will grow.

Besides the World Bank Group, the current roster includes the Asian Development Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank, and the governments of Australia, Japan and Singapore.

Other partners include Blackrock Alternative Investors, Citibank, HSBC Bank and Macquarie Group.

The new finance program is a further example of increased focus on drawing more private dollars to infrastructure. In the U.S., the Obama administration held a meeting in September at which government and private-sector officials discussed ways to facilitate private investment in infrastructure. Cabinet officials are to present to President Obama in November recommendations on how to achieve that financing goal.

The U.S. wasn't among the initial partners that signed on to the GIF, but the U.S. is a major contributor to the World Bank, which has led the GIF effort.

In addition, Treasury Secretary Jacob Lew said in an Oct. 11 statement that the U.S. welcomes the World Bank's focus on infrastructure and the new GIF. Lew said, "We fully endorse the GIF's mission to bring well-structured and bankable projects to the market by providing support at the design and preparation stage."

He added, "We also welcome the plan for a second phase for the GIF to directly participate in project financing, using innovative instruments to overcome risk perceptions and crowd in private-sector financiers."

Story updated on Oct. 13 with statement from U.S. Treasury Secretary Lew.