Poverty Reduction and Growth Trust - 2016 Borrowing Agreements with Danmarks Nationalbank, the Norwegian Ministry of Finance Representing the Kingdom of Norway, and the Sveriges Riksbank

Author: International Monetary Fund

Volume/Issue: Volume 2016 Issue 067

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Banks and Banking , Investments and Securities-General , Money and Monetary Policy , Public Policy - Social Services and Welfare , PP , trustee , amount , business day , bond equivalent yield , interest rate calculation , agreements result , SDR rate , loan resource , equivalent amount , Loans , Currencies , Bond yields , Poverty reduction and development , Treasury bills and bonds

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Summary

The Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust),entered into an amendment of the 2010 borrowing agreement with Danmarks Nationalbank, and new borrowing agreements with the Norwegian Ministry of Finance representing the Kingdom of Norway and the Sveriges Riksbank (hereafter Denmark, Norway, and Sweden, respectively), by which the counterparties will provide new resources to the Loan Accounts of the PRGT in the total amount of SDR 1.1 billion (see attachments). The augmentation under the amendment and the two new agreements are the first three loan contributions to be concluded in the context of the current Board-endorsed effort to raise SDR 11 billion in new PRGT loan resources. These amendment and new agreements became effective on November 17, 2016.