FUNDS AVAILABLE

As of June 30, 2023
(in USD Millions)

TotalGlobalMENAJordanLebanonECE
Cumulative Receipts964.99239.53386.51274.0237.8327.10
a. Cash Receipts from Supporting Countries 934.66233.57369.42270.1934.6526.84
b. Investment Income Earned a/30.335.9517.103.833.180.26
Cumulative Cash Transfers 841.71215.60307.16274.0118.0226.92
a. Concessionality806.85214.47301.88272.7017.8026.86
b. ISA Costs 2.300.341.730.210.020.06
c. Administrative Budget5.630.793.551.100.20-
Funds Held in Trust (3 = 1 - 2) 123.2923.9379.350.0119.810.18
Funding Decisions Pending Cash Transfer 20.0420.04----
Funds Available to Support Steering
Committee decision (5 = 3 - 4)
103.253.9079.350.0119.810.18

a/ Represents investment income earned on the liquid balances of the GCFF Trust Fund and investment income received from ISAs as of June 30, 2023


Note: totals may not add up due to rounding

Concessionality Spread

As of April 1st, 2023 (FY23Q4)

USD For QuarterFY23Q4AFY23Q4BFY23Q4CFY23Q4D
(1) IBRD fixed spread equivalent4.544.744.945.20
(2) IDA hard term - IDA regular1.311.311.311.31
(1) - (2) Concessionality Spread (USD)3.233.433.633.89
EUR For QuarterFY23Q4AFY23Q4BFY23Q4CFY23Q4D
(1) IBRD fixed spread equivalent3.844.044.244.50
(2) IDA hard term - IDA regular0.750.750.750.75
(1) - (2) Concessionality Spread (EUR)3.093.293.493.75

*For Lebanon (Country Group A)
**For Jordan and Colombia (Country Group B)
*IBRD Group A : SOFR+115bps / 6mEURIBOR+98
*IBRD Group B : SOFR+135bps / 6mEURIBOR+118
Starting January 1st, 2022, USD spreads used for this calculation are based on USD SOFR rates, while spreads for EUR calculations continue to be based on EURIBOR.

Source : IDA Lending Terms effective as of April 1, 2023

Spreads as of April 1, 2023:
IBRD:
Group AGroup BGroup CGroup D
USD and other1.14%1.34%1.54%1.79%
EUR0.94%1.14%1.34%1.59%
Fixed Rates for FY23 Q4
IDA:
USDEURJPYGBPSDR
Regular for small economy - service1.28%0.75%0.75%0.95%0.75%
(10-yr grace and 40-yr maturity)
Regular for IDA only - service1.31%0.75%0.75%0.95%0.75%
(6-yr grace and 38-yr maturity)
Blend - total2.73%1.68%0.75%2.25%2.00%
Blend - service1.34%0.75%0.75%0.95%0.75%
Blend - interest1.39%0.93%0.00%1.30%1.25%

Notes: Coupon rate of SML and 50-year credit will be 0% in SDR, USD, JPY, GBP and EUR.

Methodology:

  1. To calculate the IBRD fixed rate use the 18-20y ARM variable spread (as a constant spread for the life of the loan) and the 20y swap rate as the underlying reference rate
  2. To calculate the concessionality spreads, we are using the IBRD fixed rate (calculated as per parameters above) and comparing it to the IDA Regular fixed rate 6y grace / 38 final maturity
  3. Starting January 1st, 2022, USD spreads used for this calculation are based on USD 1D SOFR rates, while spreads for EUR calculations continue to be based on 6M EURIBOR.

FINANCIAL STATUS

As of June 30, 2023
(in USD Millions)

Total Total %
Supporting Country Pledges and Contributions
Contributions936.66100%
Pledges Outstanding a/-0.0%
Total Pledges Outstanding and Contributions939.66100.0%
Cumulative Resources
Resources Received
Cash Receipts934.6696.4%
Investment Income Earned b/30.333.1%
Total Resources Received964.9999.5%
Resources Not Yet Received
Contributions Not Yet Received5.000.5%
Pledges Outstanding-0.0%
Total Resources Not Net Received5.000.5%
Total Potential Resources (A) (in USD millions)969.99100.0%
Cumulative Funding Decisions
Concessionality853.7199.1%
ISA Costs2.400.3%
Administrative Budget 5.630.7%
Total Funding Decisions Not of Cancellations (B)861.74100.0%
Total Potential Resources Net of Funding Decisions (A) - (B)108.25
Funds Available
Funds Held in Trust with no restrictions123.29
Approved Amounts pending Cash Transfers20.04
Total Funds Available to Support Steering Committee Decisions103.25

a/ This does not include potential pledges that may be provided if a Supporting County enters into a loan agreement with IBRD wherein grant amounts may be generated to benefit GCFF.
b/ Represents investment income earned on the liquid balances of the GCFF Trust Fund and investment income received from ISAs.


Note: Sub-totals may not add up to due to rounding.