Update on the Financing of the Fund's Concessional Assistance and Debt Relief to Low-Income Member Countries
September 13, 2011
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Summary
Most of the targeted loan resources under the 2009 package have now been secured, but additional pledges of about SDR 1 billion in loans are still needed. Fourteen members have pledged SDR 9.8 billion in new loan resources for the PRGT, compared to the target of SDR 10.8 billion. New borrowing agreements totaling SDR 9.5 billion have been signed with thirteen lenders. Eight of these agreements provide loan resources in SDRs, and seven creditors also participate in the voluntary encashment regime.
Subject: Borrowing agreements, Borrowing by Fund, Concessional aid, Debt relief, Emergency assistance, Executive Board decisions, Forward commitment capacity, Gold sales by Fund, HIPC Initiative, Lapse of time approval, Liberia, Low-income developing countries, Multilateral debt relief initiative, Poverty Reduction and Growth Trust
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