{
  "title": "Press Release: IMF Signs SDR 405 Million Borrowing Agreement with the Bank of Spain to Support Lending to Low-Income Countries",
  "publication": "IMF News, February 19, 2010",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1050",
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  "summary": "IMF, as Trustee of the Poverty Reduction and Growth Trust (PRGT), signed a borrowing agreement with the Bank of Spain.",
  "publishDate": "2010-02-19",
  "sections": [
    {
      "heading": "Agreement details",
      "content": "- IMF, as Trustee of the Poverty Reduction and Growth Trust (PRGT), signed a borrowing agreement with the Bank of Spain.\n- The Bank of Spain will provide the Trust with SDR 405 million (about US$617 million) in new loan resources for low-income countries.\n- The agreement was signed on December 17, 2009.\n- Press Release No. 10/50; published February 19, 2010."
    },
    {
      "heading": "Purpose and intended use",
      "content": "- Expand the IMF’s capacity to help low-income countries hit hard by the current global crisis.\n- Increase the loan resources available for the recently reformed concessional lending facilities."
    },
    {
      "heading": "Fund-raising context and related reform timeline",
      "content": "- Following the Executive Board’s approval of reforms in July 2009, the Managing Director launched a fund-raising campaign seeking:\n  - SDR 9 billion in new bilateral loan resources\n  - SDR 0.2-0.4 billion in bilateral subsidy contributions\n- Reference to related announcement: Press Release No. 09/268."
    },
    {
      "heading": "Institutional update: PRGT",
      "content": "- The Poverty Reduction and Growth Trust (PRGT) replaced the former Poverty Reduction and Growth Facility and Exogenous Shocks Facility Trust.\n- The Executive Board decision making the PRGT effective date: January 7, 2010.\n- The loan resources provided under the agreement are now held in the PRGT.\n\nInternational Monetary Fund, Press Release No. 10/50, February 19, 2010.\n\n---\n\n\n References\n\n- Spain and the IMF\n- Press Releases\n- PRESS CENTER\n- Press Release No. 09/268\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1050"
    }
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    "Published: February 19, 2010",
    "IMF, as Trustee of the Poverty Reduction and Growth Trust (PRGT), signed a borrowing agreement with the Bank of Spain.",
    "The Bank of Spain will provide the Trust with SDR 405 million (about US$617 million) in new loan resources for low-income countries.",
    "The agreement was signed on December 17, 2009.",
    "Press Release No. 10/50; published February 19, 2010.",
    "Expand the IMF’s capacity to help low-income countries hit hard by the current global crisis.",
    "Increase the loan resources available for the recently reformed concessional lending facilities.",
    "Following the Executive Board’s approval of reforms in July 2009, the Managing Director launched a fund-raising campaign seeking:",
    "Reference to related announcement: Press Release No. 09/268.",
    "The Poverty Reduction and Growth Trust (PRGT) replaced the former Poverty Reduction and Growth Facility and Exogenous Shocks Facility Trust.",
    "The Executive Board decision making the PRGT effective date: January 7, 2010.",
    "The loan resources provided under the agreement are now held in the PRGT.",
    "[Spain and the IMF](http://www.imf.org/external/country/ESP/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[Press Release No. 09/268](https://www.imf.org/external/np/sec/pr/2009/pr09268.htm)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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