As the world’s largest multilateral source of financing for water in developing countries, the World Bank supports a diverse portfolio of projects related to hydraulic infrastructure. These include new dam construction and rehabilitation programs, technical assistance, and sector reforms. While dams embrace complex social, environmental, and political choices, they also make important contributions to economic prosperity, improved resilience, and poverty reduction. Ensuring sound construction, safe operation, and sustained services from such infrastructure requires a sound regulatory framework that is durable and equitable and can safeguard downstream communities while enabling economic development. Establishing and maintaining an effective regulatory framework requires due consideration of the legal, institutional, technical, and financial elements within the reality of a country’s context.