Selected Decisions and Selected Documents of the IMF, Thirty- Sixth Issue -- Poverty Reduction and Growth Trust—Review of Interest Rate StructurePrepared by the Legal Department of the IMF
As updated as of December 31, 2011
|ARTICLE V, SECTION 2(b)|
|Technical and Financial Services|
1. In accordance with Section II, paragraph 4(b), of the Instrument to Establish the Poverty Reduction and Growth Trust (PRGT Instrument), annexed to Decision No. 8759-(87/176) ESAF, adopted December 18, 1987, as amended, the Fund, as the Trustee of the Poverty Reduction and Growth Trust ("Trustee"), has reviewed the interest rates for loans under the Extended Credit Facility ("ECF"), Rapid Credit Facility ("RCF"), and the Standby Credit Facility ("SCF").
2. The Trustee decides that, in accordance with Section II, Paragraph 4(b)(i), for the period from January 1, 2012 through December 31, 2013 the interest rate on the outstanding balance of Trust loans shall be charged at the rate of zero percent per annum for loans under the ECF and the RCF, and at the rate of one quarter of one percent per annum for loans under the SCF.