The document provides an overview of the various lending facilities offered by the International Monetary Fund (IMF). It discusses 12 main facilities including the Gold Reserve Tranche, First Credit Tranche, Upper Credit Tranche, Stand-By Arrangements, General Agreement to Borrow, Extended Credit Facility, Compensatory Financing Facilities, Oil Facility, The Trust Fund, Structural Adjustment Fund, SDR, and Poverty Reduction and Growth Facilities. Each facility is briefly described in terms of its purpose, terms of lending such as interest rates and repayment periods, and eligibility criteria.
this presentation explains what is IFC i.e international financial corporation,what are the goals and purposes of IFC what are the services provided by international financial corporation
this presentation explains what is IFC i.e international financial corporation,what are the goals and purposes of IFC what are the services provided by international financial corporation
Introduction to IMF, The Bretton Woods Agreement, Objectives of IMF, Functions of IMF, Members of IMF, Governance and Organizational Structure of IMF, Resources of Funds, Application of Funds by IMF, Advantages to India from IMF.
Promote international monetary cooperation;
Facilitate the expansion and balanced growth of international trade;
Promote exchange stability;
Assist in the establishment of a multilateral system of payments; and
Make resources available (with adequate safeguards) to members experiencing balance of payments difficulties.
The IMF is accountable to the governments of its member countries. At the top of its organizational structure is the Board of Governors, which consists of one Governor and one Alternate Governor from each member country.
The Board of Governors meets once each year at the IMF-World Bank Annual Meetings.
Twenty-four of the Governors sit on the International Monetary and Financial Committee (IMFC) and normally meet twice each year.
The IMF's day-to-day work is overseen by its 24-member Executive Board, which represents the entire membership, this work is guided by the IMFC and supported by the IMF staff.
The Managing Director is the head of the IMF staff and Chairman of the Executive Board and is assisted by four Deputy Managing Directors.
A Presentation on Financial Derivatives. this covers it's definition, features, types, benefits, challenges and applications.
Derivative is defined as the future contract between two parties. It means there must be a contract-binding on the underlying parties and the same to be fulfilled in future.
Normally, the derivative instruments have the value which is derived from the values of other underlying assets, such as agricultural commodities, metals, financial assets, intangible assets.
Indian financial system and role of financial institutionsSiddharth Gupta
The Financial System of any country refers to a system that provides
smooth and efficient relationship between the borrowers and the lenders.
This system aims at establishing effective medium for generating funds from
various sources. A financial system may be defined as a set of institutions,
instruments and markets which fosters savings and channels them to their
most efficient use. The main function of this financial system is to assemble
wide spread savings from household individuals and industrial firms.
FEATURES OF INDIAN FINANCIAL SYSTEM
-It plays a vital role in economic development of a country.
-It encourages both savings and investment.
-It links savers and investors.
-It helps in capital formation.
-It helps in allocation of risk.
-It facilitates expansion of capital markets.
-It aids in financial deepening and financial broadening.
FINANCIAL INSTITUTIONS
Financial institutions are the participants in a financial market. They are business organizations dealing in financial resources. They collect resources by accepting deposits from individuals and institutions and lend them to trade, industry and others. They buy and sell financial instruments.
and many more things about the Indian financial system.
International Monetary Fund (IMF)
United Nations Conference on Trade and Development (UNCTAD)
Balance of Payment Account
Introduction to Basic Concept of IFRS.
Introduction to IMF, The Bretton Woods Agreement, Objectives of IMF, Functions of IMF, Members of IMF, Governance and Organizational Structure of IMF, Resources of Funds, Application of Funds by IMF, Advantages to India from IMF.
Promote international monetary cooperation;
Facilitate the expansion and balanced growth of international trade;
Promote exchange stability;
Assist in the establishment of a multilateral system of payments; and
Make resources available (with adequate safeguards) to members experiencing balance of payments difficulties.
The IMF is accountable to the governments of its member countries. At the top of its organizational structure is the Board of Governors, which consists of one Governor and one Alternate Governor from each member country.
The Board of Governors meets once each year at the IMF-World Bank Annual Meetings.
Twenty-four of the Governors sit on the International Monetary and Financial Committee (IMFC) and normally meet twice each year.
The IMF's day-to-day work is overseen by its 24-member Executive Board, which represents the entire membership, this work is guided by the IMFC and supported by the IMF staff.
The Managing Director is the head of the IMF staff and Chairman of the Executive Board and is assisted by four Deputy Managing Directors.
A Presentation on Financial Derivatives. this covers it's definition, features, types, benefits, challenges and applications.
Derivative is defined as the future contract between two parties. It means there must be a contract-binding on the underlying parties and the same to be fulfilled in future.
Normally, the derivative instruments have the value which is derived from the values of other underlying assets, such as agricultural commodities, metals, financial assets, intangible assets.
Indian financial system and role of financial institutionsSiddharth Gupta
The Financial System of any country refers to a system that provides
smooth and efficient relationship between the borrowers and the lenders.
This system aims at establishing effective medium for generating funds from
various sources. A financial system may be defined as a set of institutions,
instruments and markets which fosters savings and channels them to their
most efficient use. The main function of this financial system is to assemble
wide spread savings from household individuals and industrial firms.
FEATURES OF INDIAN FINANCIAL SYSTEM
-It plays a vital role in economic development of a country.
-It encourages both savings and investment.
-It links savers and investors.
-It helps in capital formation.
-It helps in allocation of risk.
-It facilitates expansion of capital markets.
-It aids in financial deepening and financial broadening.
FINANCIAL INSTITUTIONS
Financial institutions are the participants in a financial market. They are business organizations dealing in financial resources. They collect resources by accepting deposits from individuals and institutions and lend them to trade, industry and others. They buy and sell financial instruments.
and many more things about the Indian financial system.
International Monetary Fund (IMF)
United Nations Conference on Trade and Development (UNCTAD)
Balance of Payment Account
Introduction to Basic Concept of IFRS.
It describes different lending schemes of IMF along with eligibility criteria and access limit under concessional and non-concessional conditionalities.
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
The IMF is one of most influential International Financial Institution committed for the reducing global poverty by meeting the challenges and opportunities of globalization. Hence, It urges on its member countries continued cooperation on transparent monetary and economic policies, honest government, and the establishment of rule of law. Although the IMF has been contributing to the economic development of developing countries including Bangladesh, we need to deeply examine the recommendations before accept the Fund’s assistance because of some controversial events has arisen before.
The IMF is one of most influential International Financial Institution committed for the reducing global poverty by meeting the challenges and opportunities of globalization. Hence, It urges on its member countries continued cooperation on transparent monetary and economic policies, honest government, and the establishment of rule of law. Although the IMF has been contributing to the economic development of developing countries including Bangladesh, we need to deeply examine the recommendations before accept the Fund’s assistance because of some controversial events has arisen before.
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of Loans , Advances, Acquisition of shares/stock/bonds/debentures/ securities issued by Government or local authority or other securities of like marketable nature, Leasing, Hire-purchase, Insurance business, Chit business.
A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary non-banking company).
International Monetory Fund (IMF) vs The World Bank (WB) : The Real DifferenceHarshit Ahuja
Introduction and Purpose of IMF and World Bank, History of IMF and World Bank, Bretton Woods Conference, Organization Structure of IMF and World Bank, Drawing Quotas of Member Countries, Agencies of World Bank.
The BRICS proposals establish two separate institutions, the Contingency Reserve Arrangement (CRA) and the New Development Bank (NDB)
The CRA is a virtual institution whereas the NDB will be an institution that will be established
The NDB will have its headquarters in Shanghai and a regional office in Johannesburg
What is the context of these proposals?
Major gap in development finance to fund long-term infrastructure and sustainable development
The departure by US from expansionary fiscal policy led to large outflows from emerging economies and significant decline in exchange rates
This experience indicated potential vulnerability of emerging economies to shocks emanating from developed countries
This presentation looks into the financial market of China covering instruments traded, participants in three segments viz Money market, Capital market and Derivative Market.
This presentation talks about the Marketing Strategy of Shahrukh Khan's most ambitious project - Ra.One. It was the first movie to change the landscape of movie marketing and took it a notch above.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. INTRODUCTION
• The main purpose of IMF lending facilities is to
provide loans to member countries experiencing
actual or potential balance of payments
problems.
• This financial assistance helps countries in their
efforts
– to rebuild their international reserves,
– stabilize their currencies,
– continue paying for imports, and
– restore conditions for strong economic growth, while
undertaking policies to correct underlying problems.
2
3. IMF LENDING FACILITIES
• Gold reserve tranche
• First credit tranche
• Upper credit tranche
• Stand by arrangements
• General agreement to borrow
• Extended credit facility
• Compensatory Financing facilities
• Oil facility
• The trust fund
• Structural adjustment Fund
• SDR
• Poverty reduction and Growth facilities (PGRF)
3
4. GOLD RESERVE TRANCHE
• Initially, upon joining the IMF and signing the Articles
of Agreement, a member country had to pay 25
percent of its quota in gold called gold tranche and the
remaining 75 percent in its own currency. Beginning
with the year 1978, the Fund no longer required the
payment of the reserve tranche in gold.
• Under IMF rules, a member country could borrow from
the IMF an amount equal to 25 percent of its quota in
any given year. Any borrowing above this subscription
requires the IMF's approval, and it is granted only for
resolving a country's balance of payments problems.
4
5. FIRST CREDIT TRANCHE
• Under the Credit Tranche Policies, the IMF makes
credit available in four tranches (segments), each
equal to 25 percent of a member’s quota. The
First Credit Tranche represents use of IMF
resources up to the limit of the first tranche on
fairly liberal terms.
• Requests for use of IMF resources beyond the
first credit tranche require substantial
justification for the expectation that the
member’s balance of payments difficulties will be
resolved within a reasonable period of time.
5
6. UPPER CREDIT TRANCHE
• Upper credit tranche drawings are made in
installments, or phased, and are released when
performance targets are met.
• Such drawings are normally associated with
Stand-By or Extended Arrangements, which
typically seek to resolve balance of payments
difficulties and to support structural policy
reforms where appropriate. Performance criteria
and periodic reviews are used to assess policy
implementation.
6
7. STAND BY ARRANGEMENTS
• Historically, the bulk of non-concessional IMF assistance
has been provided through SBAs. The SBA is designed to
help countries address short-term balance of payments
problems. Program targets are designed to address these
problems and disbursements are made conditional on
achieving these targets.
• The length of a SBA is typically 12–24 months, and
repayment is due within 3¼-5 years of disbursement. SBAs
may be provided on a precautionary basis—where
countries choose not to draw upon approved amounts but
retain the option to do so if conditions deteriorate. The SBA
provides for flexibility with respect to phasing, with front-
loaded access where appropriate.
7
8. GENERAL AGREEMENT TO BORROW
• In December, 1961, the Fund took a decision on a General Arrangement to
Borrow (G.A.B.), according to which the Fund has been authorized to
borrow supplementary resources under Article VII of the Agreement. The
object of the Agreement is to “enable the IMF to fulfill more effectively its
role in the international monetary system in the new conditions of
widespread convertibility, including greater freedom for short-term capital
movement.”
• A borrowing/lending medium for members of the Group of Ten. Members
of the lending country deposit funds into the International Monetary Fund
(IMF), which are made available to be withdrawn by the borrowing
member in need. One of the advantages of this is that each country deals
in their own currency, leaving all conversions to the IMF.
8
9. EXTENDED FUND FACILITY
• The Extended Fund Facility (EFF) provides
long-term assistance to support members’
structural reforms to address balance of
payments difficulties of a long-term character.
Drawings under extended arrangements are
repayable in 12 semiannual installments 4½ -
10 years after disbursement.
9
10. COMPENSATORY FINANCING
FACILITIES
• The Compensatory Financing Facility (CFF) was
a special IMF financing facility established in
1963. Until its elimination in 2009, the CFF
provided resources to members who
encountered balance of payments difficulties,
arising out of export shortfalls or excess costs
of cereal imports that were temporary and
resulted from events that were largely beyond
the members’ control.
10
11. OIL FACILITY
• Two Oil Facilities were established in response to
the oil price shock in the 1970s.
– The first Oil Facility was created in June 1974 and
lapsed in December 1974.
– The second Oil Facility was created in April 1975 to
provide additional financing, and lapsed in March
1976.
Both facilities aimed at providing supplementary
financing to member countries facing balance of
payments problems and were adversely affected by
higher oil prices. Loans under the Oil facilities were
repayable in 16 quarterly installments 3–7 years after
disbursement.
11
12. THE TRUST FUND
• The Trust Fund (1976-1981) was set up to provide
special balance of payments assistance on
concessional terms to developing members.
These loans offered a 5½ years grace period and
were repayable in 10 years, at an interest rate of
½ percent per annum.
• Trust Fund Interest - The Trust Fund Interest is
payable semiannually by a member on
outstanding TF credit.
12
13. STRUCTURAL ADJUSTMENT FUND
• The Structural Adjustment Facility (SAF) was
created in 1986 to provide concessional
financing to assist low-income countries in
addressing balance of payments financing
needs arising from structural weaknesses. The
SAF was financed by reflows of Trust Fund
repayments, and its loans were extended on
the same terms with a 5½ years grace period
and repayable in 10 years and at the interest
rate of ½ percent per annum.
13
14. SDR
• The Special Drawing Right (SDR) is an interest-bearing reserve asset
created by the IMF to supplement members’ reserve assets. It is a
purely official asset and can only be held and used by members in
the SDR department, the IMF, and certain designated official
entities. SDR holdings can be exchanged with other members for
freely usable currency.
• SDR Allocations are a distribution of SDRs to members by decision
of the IMF. A general allocation requires a finding by the IMF that
there is a global need for additional liquidity. Allocations of SDRs
are made to participants in the SDR department (currently, all IMF
members are participants) in proportion to their quotas in the IMF.
• The SDR Interest Rate is a weighted average of interest rates on
short-term financial instruments in the markets of the currencies
included in the SDR valuation basket. It is determined on a weekly
basis and serves as basis for calculating interest paid and charged to
members
14
17. POVERTY REDUCTION AND GROWTH
FACILITIES
• The Poverty Reduction Growth Trust (PRGT) was
established in 1987 to provide concessional assistance to
low-income members and was subsequently enlarged and
renamed. PRGT was previously known as ESAF (1987-1999),
PRGF (1999-2006), PRGF-ESF (2006-2010) Trusts.
• The PRGT provides financial assistance under three
facilities:
– the Extended Credit Facility (ECF) to address protracted balance
of payments (BOP) needs,
– the Standby Credit Facility (SCF) to address short-term and
precautionary BOP needs, and
– the Rapid Credit Facility (RCF) to provide rapid low access with
limited conditionality to meet urgent BOP needs.
17