Launched in November 2008, the Debt Management Facility (DMF) for Low-Income Countries (LICs) is a multi-donor trust fund that supports the scaling up and accelerated implementation of the World Bank Group's debt management work program in low-income countries - (List of DMF-eligible countries). The program has the specific objective of strengthening debt management capacity and institutions through a number of tools that help countries assess and plan their debt. The DMF also helps empower debt managers faced with political pressure to advocate for a prudent and sustainable approach to taking on new debt.

In 2014, the World Bank Group launched a second round of the trust fund (DMF II) that formalizes a partnership with the International Monetary Fund. Experts from both institutions will now execute trainings and technical assistance for low-income countries hoping to improve and professionalize their debt management. The list of topics covered by the trust fund has also been expanded to cover emerging issues, such as domestic debt market development and the issuance of debt on international markets.