IMF and De Nederlandsche Bank NV Amend Borrowing Agreement to Increase Lending Capacity to Low-Income Countries by an Additional SDR 500 Million

IMF News, February 24, 2017

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Canonical URL: IMF and De Nederlandsche Bank NV Amend Borrowing Agreement to Increase Lending Capacity to Low-Income Countries by an Additional SDR 500 Million

Press Release No. 17/62; date: February 24, 2017.
The Kingdom of the Netherlands will provide an additional amount of up to SDR 500 million (about US$677.5 million) in new loan resources.
The total loan amount under the amended borrowing agreement with the Kingdom of the Netherlands was amended to provide up to SDR 1 billion for the Poverty Reduction and Growth Trust (PRGT) benefitting the IMF’s low income member countries.
The amendment was made effective on December 20, 2016.
This amendment constitutes the Kingdom of the Netherlands’s third loan contribution to the PRGT.
The Kingdom of the Netherlands is among the first seven countries to provide new PRGT loan resources under the current fund raising campaign.
The Managing Director launched the fundraising campaign in November 2015 with a target of SDR 11 billion in new bilateral loan resources.
The amendment references the IMF’s 2010 borrowing agreement with De Nederlandsche Bank NV (see Press Release No.10/309).

The Kingdom of the Netherlands’s continued support of the PRGT in loan resources for the IMF’s low-income member countries is described as a critical element towards sustaining the Fund’s concessional lending operations over the medium-term.
By increasing available loan resources, the amendment expands the IMF’s capacity to provide concessional financing to low-income countries through the PRGT.

Source: Press Release No. 17/62, February 24, 2017, International Monetary Fund.