Abstract
This paper proposes that the Executive Board approve the disbursement of a second 6-month tranche of CCRT debt service relief to 28 of the 29 members.
Update to Funding Status of the CCRT
1. On September 23 and 25, 2020, the United Kingdom and Malta, respectively, disbursed their pledges in full. The United Kingdom disbursed the second installment of £75 million (SDR 67.8 million) and Malta disbursed their full pledge of US$0.8 million (SDR 0.6 million). With these two additional disbursements, SDR 303 million has been disbursed out of about SDR 360 million in total existing pledges. Please see below the updated Table 2 as it appears in main document.
2. The CCRT cash balance as of September 29, 2020 amounts to SDR 270 million, which includes the pre-COVID balance of SDR 150 million. Remaining disbursements of SDR 54 million from existing pledges are expected during the second tranche period (October 14, 2020-April 13, 2021). Eligible debt service for the second six-month tranche of the CCRT relief amounts to SDR 168 million.
New Contributions to the CCRT
(As of September 29, 2020)
Exchange rates are as of September 14, 2020.
Disbursed as part of the 2015–17 fundraising campaign.
Subject to domestic approval.
New Contributions to the CCRT
(As of September 29, 2020)
| Country | CCRT grants1 | Current status of contribution | |||
|---|---|---|---|---|---|
| In millions of SDRs | In millions of original currency (if appl.) | In millions of US$ | |||
| UK | 135.8 | £150 | 192.0 | Disbursed | |
| Japan | 73.4 | $100 | 103.8 | Disbursed | |
| Germany | 66.2 | € 80 | 93.5 | Partially disbursed | |
| Netherlands | 20.9 | € 25 | 29.5 | Partially disbursed | |
| Switzerland | 19.5 | CHF 25 | 27.5 | Disbursed | |
| Norway | 14.5 | NOK 180 | 20.5 | Disbursed | |
| China | 5.6 | 7.9 | Disbursed | ||
| Mexico2 | 2.9 | $4 | 4.1 | Disbursed | |
| Sweden | 2.4 | SEK 30 | 3.5 | Disbursed | |
| Bulgaria | 1.9 | 2.7 | Disbursed | ||
| Luxembourg | 1.7 | € 2 | 2.3 | Disbursed | |
| Malta | 0.6 | $0.8 | 0.8 | Disbursed | |
| Other(s)3 | 12.4 | $17.6 | 17.6 | Pledge | |
| Total | 357.7 | 505.8 | |||
| Target | SDR 1 billion | US$1.4 billion | |||
Exchange rates are as of September 14, 2020.
Disbursed as part of the 2015–17 fundraising campaign.
Subject to domestic approval.
New Contributions to the CCRT
(As of September 29, 2020)
| Country | CCRT grants1 | Current status of contribution | |||
|---|---|---|---|---|---|
| In millions of SDRs | In millions of original currency (if appl.) | In millions of US$ | |||
| UK | 135.8 | £150 | 192.0 | Disbursed | |
| Japan | 73.4 | $100 | 103.8 | Disbursed | |
| Germany | 66.2 | € 80 | 93.5 | Partially disbursed | |
| Netherlands | 20.9 | € 25 | 29.5 | Partially disbursed | |
| Switzerland | 19.5 | CHF 25 | 27.5 | Disbursed | |
| Norway | 14.5 | NOK 180 | 20.5 | Disbursed | |
| China | 5.6 | 7.9 | Disbursed | ||
| Mexico2 | 2.9 | $4 | 4.1 | Disbursed | |
| Sweden | 2.4 | SEK 30 | 3.5 | Disbursed | |
| Bulgaria | 1.9 | 2.7 | Disbursed | ||
| Luxembourg | 1.7 | € 2 | 2.3 | Disbursed | |
| Malta | 0.6 | $0.8 | 0.8 | Disbursed | |
| Other(s)3 | 12.4 | $17.6 | 17.6 | Pledge | |
| Total | 357.7 | 505.8 | |||
| Target | SDR 1 billion | US$1.4 billion | |||
Exchange rates are as of September 14, 2020.
Disbursed as part of the 2015–17 fundraising campaign.
Subject to domestic approval.