Update on the Financing of the Fund’s Concessional Assistance and Debt Relief to Low-Income Member Countries
April 20, 2010
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Summary
The paper is organized as follows. Section II summarizes: (i) the comprehensive reforms of the Fund’s concessional lending instruments and the associated financing framework that have become effective since the last review; and (ii) the measures that the Board recently endorsed to facilitate the needed mobilization of loan resources. Section III on the financing of PRGT operations begins by reviewing the projected financing needs established in July 2009 in light of recent commitments under the PRGT, and then considers the status of loan and subsidy resources, before discussing developments in the PRGT Reserve Account. Sections IV and V provide updates on the subsidization of emergency assistance and the financing of debt relief under the HIPC and MDRI.
Subject: Concessional aid, Exogenous Shocks Facility, Extended Credit Facility, Forward commitment capacity, HIPC Initiative, 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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