{
  "title": "The Extended Fund Facility (EFF)",
  "sourceUrl": "https://www.imf.org/en/about/factsheets/sheets/2023/extended-fund-facility-eff",
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  "summary": "The Extended Fund Facility (EFF) provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address.",
  "publishDate": "2023-03-17",
  "sections": [
    {
      "heading": "Purpose",
      "content": "- Provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address.\n- Offers longer program engagement and a longer repayment period to help countries implement medium-term structural reforms.\n- Supports comprehensive programs with a focus on policies needed to correct structural imbalances over an extended period."
    },
    {
      "heading": "Eligibility",
      "content": "- (No eligibility details specified in the supplied content.)"
    },
    {
      "heading": "Conditionality and Disbursements",
      "content": "- Disbursements conditional on the observance of quantitative performance criteria.\n- Progress in implementing structural measures that are critical to achieving the objectives of the program is assessed in a holistic way, including via benchmarks."
    },
    {
      "heading": "Review modalities",
      "content": "- (No review modality details specified in the supplied content.)"
    },
    {
      "heading": "Terms, Fees, and Repayment",
      "content": "- Resources are subject to a commitment fee levied at the beginning of each 12-month period on amounts that could be drawn in the period:\n  - 15 basis points for committed amounts up to 200 percent of quota,\n  - 30 basis points on committed amounts above 200 percent and up to 600 percent of quota,\n  - 60 basis points on amounts exceeding 600 percent of quota.\n- Fees are refunded pro rata if amounts are drawn during the course of the relevant period. If a country borrows the entire amount, the fee is fully refunded.\n- A service charge of 50 basis points is applied on each amount drawn.\n- EFFs generally are not formulated on a precautionary basis in anticipation of a future balance of payments problem."
    }
  ],
  "bullets": [
    "Provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address.",
    "Offers longer program engagement and a longer repayment period to help countries implement medium-term structural reforms.",
    "Supports comprehensive programs with a focus on policies needed to correct structural imbalances over an extended period.",
    "(No eligibility details specified in the supplied content.)",
    "Disbursements conditional on the observance of quantitative performance criteria.",
    "Progress in implementing structural measures that are critical to achieving the objectives of the program is assessed in a holistic way, including via benchmarks.",
    "(No review modality details specified in the supplied content.)",
    "Resources are subject to a commitment fee levied at the beginning of each 12-month period on amounts that could be drawn in the period:",
    "Fees are refunded pro rata if amounts are drawn during the course of the relevant period. If a country borrows the entire amount, the fee is fully refunded.",
    "A service charge of 50 basis points is applied on each amount drawn.",
    "EFFs generally are not formulated on a precautionary basis in anticipation of a future balance of payments problem.",
    "**The Extended Fund Facility**",
    "**The Extended Fund Facility**"
  ],
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