Demand Projections for the Fund's Concessional Resources
March 16, 2011
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Projections of demand for concessional loans under the Poverty Reduction and Growth Trust (PRGT) are subject to a high degree of uncertainty. The Fund’s financial support to low-income countries (LICs) is both cyclical and lumpy. Moreover, there are important structural changes underway that are likely to affect the frequency, nature, and size of Fund concessional lending. As a result, simple extrapolations from historical lending volumes are misleading. This paper reviews factors underlying historical lending trends and develops a methodology that can narrow down the range of possible longer-term demand scenarios.
Subject: Concessional aid, Demand, Extended Credit Facility, Forward commitment capacity, Fund facilities, General Resources Account, Low-income developing countries, Policy Support Instrument, Poverty Reduction and Growth Trust, Resource mobilization, Standby Credit Facility
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Policy Papers
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