As of June 30, 2023
(in USD Millions)
FUNDS AVAILABLE
Total | Global | MENA | Jordan | Lebanon | ECE | |
Cumulative Receipts | 964.99 | 239.53 | 386.51 | 274.02 | 37.83 | 27.10 |
a. Cash Receipts from Supporting Countries | 934.66 | 233.57 | 369.42 | 270.19 | 34.65 | 26.84 |
b. Investment Income Earned a/ | 30.33 | 5.95 | 17.10 | 3.83 | 3.18 | 0.26 |
Cumulative Cash Transfers | 841.71 | 215.60 | 307.16 | 274.01 | 18.02 | 26.92 |
a. Concessionality | 806.85 | 214.47 | 301.88 | 272.70 | 17.80 | 26.86 |
b. ISA Costs | 2.30 | 0.34 | 1.73 | 0.21 | 0.02 | 0.06 |
c. Administrative Budget | 5.63 | 0.79 | 3.55 | 1.10 | 0.20 | - |
Funds Held in Trust (3 = 1 - 2) | 123.29 | 23.93 | 79.35 | 0.01 | 19.81 | 0.18 |
Funding Decisions Pending Cash Transfer | 20.04 | 20.04 | - | - | - | - |
Funds Available to Support Steering Committee decision (5 = 3 - 4) | 103.25 | 3.90 | 79.35 | 0.01 | 19.81 | 0.18 |
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 Quarter | FY23Q4A | FY23Q4B | FY23Q4C | FY23Q4D |
(1) IBRD fixed spread equivalent | 4.54 | 4.74 | 4.94 | 5.20 |
(2) IDA hard term - IDA regular | 1.31 | 1.31 | 1.31 | 1.31 |
(1) - (2) Concessionality Spread (USD) | 3.23 | 3.43 | 3.63 | 3.89 |
EUR For Quarter | FY23Q4A | FY23Q4B | FY23Q4C | FY23Q4D |
(1) IBRD fixed spread equivalent | 3.84 | 4.04 | 4.24 | 4.50 |
(2) IDA hard term - IDA regular | 0.75 | 0.75 | 0.75 | 0.75 |
(1) - (2) Concessionality Spread (EUR) | 3.09 | 3.29 | 3.49 | 3.75 |
*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.
IBRD:
Group A | Group B | Group C | Group D | |
USD and other | 1.14% | 1.34% | 1.54% | 1.79% |
EUR | 0.94% | 1.14% | 1.34% | 1.59% |
IDA:
USD | EUR | JPY | GBP | SDR | |
Regular for small economy - service | 1.28% | 0.75% | 0.75% | 0.95% | 0.75% |
(10-yr grace and 40-yr maturity) | |||||
Regular for IDA only - service | 1.31% | 0.75% | 0.75% | 0.95% | 0.75% |
(6-yr grace and 38-yr maturity) | |||||
Blend - total | 2.73% | 1.68% | 0.75% | 2.25% | 2.00% |
Blend - service | 1.34% | 0.75% | 0.75% | 0.95% | 0.75% |
Blend - interest | 1.39% | 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:
- 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
- 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
- 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 | ||
Contributions | 936.66 | 100% |
Pledges Outstanding a/ | - | 0.0% |
Total Pledges Outstanding and Contributions | 939.66 | 100.0% |
Cumulative Resources | ||
Resources Received | ||
Cash Receipts | 934.66 | 96.4% |
Investment Income Earned b/ | 30.33 | 3.1% |
Total Resources Received | 964.99 | 99.5% |
Resources Not Yet Received | ||
Contributions Not Yet Received | 5.00 | 0.5% |
Pledges Outstanding | - | 0.0% |
Total Resources Not Net Received | 5.00 | 0.5% |
Total Potential Resources (A) (in USD millions) | 969.99 | 100.0% |
Cumulative Funding Decisions | ||
Concessionality | 853.71 | 99.1% |
ISA Costs | 2.40 | 0.3% |
Administrative Budget | 5.63 | 0.7% |
Total Funding Decisions Not of Cancellations (B) | 861.74 | 100.0% |
Total Potential Resources Net of Funding Decisions (A) - (B) | 108.25 | |
Funds Available | ||
Funds Held in Trust with no restrictions | 123.29 | |
Approved Amounts pending Cash Transfers | 20.04 | |
Total Funds Available to Support Steering Committee Decisions | 103.25 |
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.