Purposes and Amounts. (a) In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, Deutsche Bundesbank agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 15 billion, on the terms and conditions set out below.
(b) This agreement is based on Article VII, Section 1(i) of the Articles of Agreement of the IMF, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (GRA). This agreement must be considered in light of the Fund’s Guidelines on Borrowing which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota resources.
Purposes and Amounts. (a) To enhance the resources available on a temporary basis to the International Monetary Fund (the “Fund”) for crisis prevention and resolution through bilateral borrowing, the Bank of Italy agrees to lend to the Fund an SDR-denominated amount up to the equivalent of EUR 23,480 million (the “Loan Amount); provided however that, upon the effectiveness of the increase in Italy’s credit arrangement under the Fund’s New Arrangements to Borrow (the “NAB”) as part of the reform of the NAB approved by the Fund under Decision No. 16645-(20/5), adopted January 16, 2020 (the “NAB Reform”), the Loan Amount will be automatically reduced to an SDR-denominated amount up to the equivalent of EUR 10,115 million (the “Rolled Back Loan Amount”).
(b) This agreement is based on Article VII, Section 1(i) of the Fund’s Articles of Agreement, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (“GRA”). This agreement must be considered in light of the Guidelines for Borrowing by the Fund, which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota resources.
(c) This agreement and other bilateral borrowing agreements that the Fund has entered into or amended pursuant to the borrowing framework approved by the Fund in March 2020 shall be referred to each as a “2020 Borrowing Agreement” and collectively as the “2020 Borrowing Agreements.” Each bilateral borrowing agreement that the Fund entered into pursuant to the borrowing framework approved by the Fund in August 2016 shall be referred to as a “2016 Borrowing Agreement” and collectively as the “2016 Borrowing Agreements.” The 2020 Borrowing Agreements and the 2016 Borrowing Agreements shall be collectively referred to as the “Bilateral Borrowing Agreements.”
Purposes and Amounts. (a) To enhance the resources available on a temporary basis to the International Monetary Fund (the “Fund”) for crisis prevention and resolution through bilateral borrowing, the Government of Luxembourg (“Luxembourg”) agrees to lend to the Fund an SDR- denominated amount up to the equivalent of EUR 2.06 billion, on the terms and conditions set out below.
(b) This agreement is based on Article VII, Section 1(i) of the Fund’s Articles of Agreement, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (“GRA”). This agreement must be considered in light of the Guidelines for Borrowing by the Fund (the “Borrowing Guidelines”), which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota
Purposes and Amounts. (a) In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Central Bank of Malta (the “CBM”) agrees to lend to the Fund an SDR- denominated amount up to the equivalent of EUR120 million, on the terms and conditions set out below.
(b) This agreement is based on Article VII, Section 1 (i) of the Articles of Agreement of the IMF, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (GRA). This agreement must be considered in light of the Fund’s Guidelines on Borrowing which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota resources.
Purposes and Amounts. (a) In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Government of the United Kingdom (the “United Kingdom”), acting through Her Majesty's Treasury (“HM Treasury”), agrees to lend to the Fund up to the equivalent of SDR 9.92 billion on the terms and conditions set out below.
(b) This agreement is based on Article VII, Section 1(i) of the Articles of Agreement of the IMF, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (GRA). This agreement must be considered in light of the Fund’s Guidelines on Borrowing which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota resources.
Purposes and Amounts. In light of the international effort to ensure the adequacy of the financial resources available to the Fund, and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance, particularly to developing and emerging market countries affected by the global financial crisis, Brazil agrees to purchase from the Fund promissory notes, which shall be issued in accordance with the terms of this Agreement and the General Terms and Conditions for International Monetary Fund Series A and Series B Notes attached as Annex I to this Agreement (the “Notes”). Notes in an SDR-denominated amount up to the equivalent of U.S. dollar 10 billion shall be issued under this Agreement, all of which shall comprise Series A Notes.
Purposes and Amounts. In light of the international effort to ensure the adequacy of the financial resources available to the Fund, and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance, particularly to developing and emerging market countries affected by the global financial crisis, the PBC agrees to purchase from the Fund promissory notes, which shall be issued in accordance with the terms of this Agreement and the General Terms and Conditions for International Monetary Fund Series A and Series B Notes attached as Annex I to this Agreement (the “Notes”). Notes in a total principal amount of up to the equivalent of SDR 32 billion (equivalent to RMB 341.2 billion as of August 25, 2009) shall be issued under this Agreement, of which the first SDR 15 billion in total principal amount shall comprise Series A Notes and the remainder shall comprise Series B Notes. Series A and Series B Notes are identical, except that only Series A Notes are eligible for early payment on demand under certain circumstances, as specified in paragraph 7 of the General Terms and Conditions.
Purposes and Amounts. In light of the multilateral effort to ensure the adequacy of the financial resources available to the International Monetary Fund (the “Fund”), and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance to its members, the Government of Japan (“Japan”) agrees to lend to the Fund an SDR-denominated amount up to the equivalent of U.S. $100 billion, on the terms and conditions set out below.
Purposes and Amounts. (a) To enhance the resources available on a temporary basis to the International Monetary Fund (the “Fund”) for crisis prevention and resolution through bilateral borrowing, Australia agrees to lend to the Fund up to the equivalent of Special Drawing Rights (“SDR”)
Purposes and Amounts. (a) To enhance the resources available to the International Monetary Fund (the “Fund”) for crisis prevention and resolution through a new round of bilateral borrowing (the “2012 Borrowing Agreements”), Australia agrees to lend to the Fund up to the equivalent of SDR 4.61 billion, on the terms and conditions set out below.
(b) This agreement is based on Article VII, Section 1(i) of the Fund’s Articles of Agreement, which authorizes the Fund to borrow from Fund members or other sources if it deems such action appropriate to replenish its holdings of any member’s currency in the General Resources Account (“GRA”). This agreement must be considered in light of the Guidelines for Borrowing by the Fund (the “Borrowing Guidelines”), which make clear that quota subscriptions are and should remain the basic source of Fund financing, and that the role of borrowing is to provide a temporary supplement to quota resources.
