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

February 24, 2017

  • Netherlands to provide an additional SDR 500 million in new loan resources; bringing the total amount under the borrowing agreement to SDR 1 billion for the IMF’s low income member countries
  • Netherlands’s continued support is a critical element towards sustaining the Fund’s concessional lending operations over the medium-term
The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), has entered into an amendment of its 2010 borrowing agreement with De Nederlandsche Bank NV (see Press Release No.10/309), through which 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. Accordingly, the total loan amount under the borrowing agreement with the Kingdom of the Netherlands was amended to provide up to SDR 1 billion for the PRGT benefitting the IMF’s low income member countries.

This amendment, made effective on December 20, 2016, constitutes the Kingdom of the Netherlands’s third loan contribution to the PRGT and puts the Kingdom of the Netherlands among the first seven countries to provide new PRGT loan resources under the current fund raising campaign. Following the Executive Board’s endorsement, the Managing Director launched this campaign in November 2015 with a target of SDR 11 billion in new bilateral loan resources (see Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries).

The Kingdom of the Netherlands’s continued support of the PRGT in loan resources for the IMF’s low-income member countries is a critical element towards sustaining the Fund’s concessional lending operations over the medium-term.
IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Andrew Kanyegirire

Phone: +1 202 623-7100Email: MEDIA@IMF.org