Poverty Reduction and Growth Trust: 2024 Borrowing Agreements with Belgium, Denmark, France, Japan, Korea, And Qatar

Author: International Monetary Fund. Finance Dept. and International Monetary Fund. Legal Dept.

Five of the six agreements use SDRs in the context of SDR channeling. Together these borrowing agreements provide a total amount of SDR 3.9 billion in new PRGT loan resources. The 2021 loan fundraising campaign was concluded successfully.

Volume/Issue: Volume 2024 Issue 028

Publication date: May 2024

ISBN: 9798400277191

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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , Public Policy - Social Services and Welfare , Political Economy , transparency policy , PRGT loan disbursement , loan resource , SDR interest rate assumption , loan pledge , Loans , Poverty reduction and development , SDR interest rate

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Summary

This paper presents the last six borrowing agreements that were concluded between October 2023 and February 2024 to provide new loan resources to the Poverty Reduction and Growth Trust (PRGT) as part of the loan mobilization round launched in July 2021 to support low-income countries (LICs) during the pandemic and beyond. Five of the six agreements use SDRs in the context of SDR channeling. Together these borrowing agreements provide a total amount of SDR 3.9 billion in new PRGT loan resources. The 2021 loan fundraising campaign was concluded successfully. It mobilized total contributions of SDR 14.65 billion from 17 PRGT lenders, well exceeding the SDR 12.6 billion loan target.