ESAF Facts

• Pages: 249

Page 249

Date established: December 18, 1987. Purpose: For low-income developing countries, to promote balance of payments viability and growth in a balanced manner, through the mobilization of domestic and external resources, improvements in resource allocation, and the removal of structural impediments.

Financing terms: Interest rate of 0.5 percent a year; repayments in ten equal semiannual installments, beginning 5!/2 years and ending ten years after the date of each disbursement. Amounts committed (as of June 30, 1997): SDR 7.8 billion ($10.9 billion).

Eligibility criteria: Upon establishment, low-income countries eligible for...