Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries
September 21, 2010
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Summary
Members have responded positively to the Managing Director’s fund-raising request. Thirteen members have pledged about SDR 9.3 billion in additional loan resources, compared to the target of SDR 10.8 billion (including provision for a liquidity buffer to facilitate encashment). New loan and note purchase agreements totaling SDR 7.2 billion have been signed so far with nine lenders. Five of these borrowing agreements provide loan resources in SDRs. It remains important to mobilize additional loan resources to complete the financing package.
Subject: Concessional aid, Debt relief, Executive Board decisions, Extended Credit Facility, Forward commitment capacity, Heavily indebted poor countries, Lapse of time approval, Low-income developing countries, Multilateral debt relief initiative, Poverty Reduction and Growth Trust, Rapid Credit Facility, Resource mobilization, SDR loans, Standby Credit Facility
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