Examples of Concessionality Amount in a sentence
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Use of the Concessionality Amount occurs when the ISA commits to provide an amount totaling the Concessionality Amount to the Benefitting Country in disbursements over time proportional to the loan funds, as in an effective financing agreement.
To provide concessionality through the Concessionality Amount, the ISA transfers funds in the amount received from the CFF to the Benefitting Country at the time of each loan disbursement on a pro rata basis.
The relevant ISA is responsible for implementation of the Concessionality Amount as described in the corresponding Funding Request submitted by the Benefitting Country and approved by the Steering Committee.
All calculations and operations for the Concessionality Amount are in United States dollars, including for Funding Requests, Allocations, Commitments and transfers to ISAs.
The designated ISA prepares and implements the provision of concessionality (the “Concessionality Component”) through use of the Concessionality Amount for the Underlying Operation described in the Funding Request.
Regardless of the manner in which the ISA provides the concessionality portion to the Benefitting Country, once the ISA uses the Concessionality Amount to enter into a committed financing arrangement, the additional funding provided to the Benefitting Country is the full responsibility of the ISA under its applicable operating terms, acting on its own behalf, not on behalf of the CFF or the individual Supporting Countries.
The Concessionality Amount is provided for use by the ISA to provide concessionality and is accordingly not project-based financing for use by a recipient.
The CFF provides upfront funding (the Concessionality Amount) for a Benefitting Country to an ISA in an amount that would cover, on a net present value basis, a pre-defined Concessionality Spread for the disbursement period of an ISA loan.
The Concessionality Amount is calculated on the basis of the ISA loan amount and becomes part of the overall financing package.