IDA Terms(Effective as of January 1, 2016)

Maturityb/

Principal Repayments

GracePeriod

Year 7 - 20

Year 21 - 38

Acceleration
Clause c/a/NANANANANA

Regular d/

38

63.125%3.125%

Yes

Blend e/25

53.3% f/

6.7% g/

Yes

53.3%

f/

6.7%g/

Yesf/

5.0%g/

NoGrants

Hard Term Lendingh/25

Transitional Support

25

55.0%

Guarantees

NANANANANA

Notes:
a/Countries with a high risk of debt distress ('red-light countries') receive 100 percent of their allocation in the form of grants
and those with a moderate risk of debt distress ('yellow-light countries') receive 50 percent in the form of grants. Grants are
not subject to repayment or service charges, but carry a 20 percent volume discount on the country's allocation.
b/
The maturity of all IDA credits approved by the Board through June 30, 1987 is 50 years. The maturity of IDA credits
approved by the Board between June 30, 1987 and June 30, 2011 are 35 or 40 years. The maturity of credits approved
between July 1, 2011 and June 30, 2014 are 25 or 40 years.
c/
IDA credits include an acceleration clause, providing for doubling of principal payments from creditworthy borrowers whereper capita income remains above eligibility thresholds. IDA credits on hardened terms (approved during IDA13-IDA15) are
exempt from the accelerated repayment provisions.
d/Regular credit for small island economies will continue to be 40 year maturity; 10 year grace period; 2% pa years 11-20; 4%pa years 21-40.
e/
Blend terms apply to blend countries and IDA countries with GNI per capita above the operational cutoff for more than two
consecutive years, known previously as "gap" or "hardened term" countries. An exception to the GNI per capita operational
cutoff for IDA eligibility has been made for some small island economies on the basis of their vulnerability.
f/Year 6-15.
g/Year 16-25.
h/Blend countries (excluding small island states with a population of less than 1.5 million that receive regular IDA creditterms) are eligible for hard-term IDA credits. These resources are additional to a country’s regular performance basedallocation. The access to hard-term credits is expanded in proportion to the countries’ performance based allocation.

i) Fixed Rates for FY16 Q3 - For credits approved between January 1, 2016 and March 31, 2016
USD

EUR

JPY

GBP

SDR

Regular for small island - service(10-yr grace and 40-yr maturity)
Regular for IDA only - service(6-yr grace and 38-yr maturity)

1.31%

0.75%

0.75%

0.75%

0.75%

1.34%

0.75%

0.75%

0.75%

0.75%

Blend - service
Blend - interest

1.36%
1.37%

0.75%
0.66%

0.75%
0.00%

0.75%
1.28%

0.75%
1.25%

Blend - total

2.73%

1.41%0.75%

2.03%

2.00%

Transitional Support and Hard-term Lending Windows(Transitional support and hard-term lending pricing is linked to IBRD pricing)
USD

EUR

JPYGBP

SDR

Transitional Support - service

0.75%

0.75%

0.75%

0.75%

0.75%

Transitional Support - interest

2.81%

1.57%

0.98%

2.34%

2.21%

Transitional Support - total

3.56%

2.32%

1.73%

3.09%

2.96%

Hard-term Lending - service

0.75%

0.75%

0.75%

0.75%

0.75%

Hard-term Lending - interest

1.86%

0.64%

0.08%

1.36%

1.08%

Hard-term Lending - total

2.61%

1.39%

0.83%

2.11%

1.83%

Notes:
1 - Fixed rates for single-currency credits are calculated and published quarterly. Credits approved in each quarter will besubject to the rates published in the beginning of that quarter.
2 - IDA sets the SDR interest rate for hard-term credits on an annual basis (in June of each year for the new fiscal year starting
July 1) as the fixed rate equivalent of IBRD interest rates less 200 basis points. Single currency rates for hard-term credits will
be reset quarterly.
3 - To ensure that IDA covers its administrative expenses and to prevent a negative interest charge, IDA applies a floor of 75bps for the service charge and a floor of 0 bps for the interest charge for all currencies. The service charge is applied as apercentage of the disbursed and outstanding credit balance
4 - In addition, all IDA credits are subject to a commitment charge, which is currently nil. IDA's Commitment charge is avariable charge set within a range of 0 - 0.5 percent of the undisbursed balance of IDA's credits and grants. Executive Directors
review and approve the level of the commitment charge annually.
5 - Fixed rates for transitional support and hard-term lending in single-currency are calculated as the fixed rate equivalent of
the floating rates (floating rates are listed in the following table), excluding the 1 bps transaction fee.
6 - For guarantees;i)A standby fee is applied to the undisbursed balance of the guaranteed financing and is analogous to thecommitment charge on IDA credits. The standby fee is currently fixed at 0 bps per annum, but may change
according to changes in commitment charges.
ii)
A guarantee fee is applied on the disbursed and outstanding amounts of the guaranteed financing, in the same
way service charges on IDA credits are applied. The guarantee fee is currently fixed at 75 bps per annum, equal
to the fixed level of service charges on IDA credits.
iii)
In addition to the standby and guarantee fees, IDA guarantees for private sector borrowers are subject to aninitiation fee and a processing fee, which are one-time fees paid up-front. The initiation fee is 15 bps of theprincipal amount or $100,000 (whichever is higher); the processing fee is up to 50 bps of the principal
amount. The processing fee is assessed on a case by case basis and can be either waived or increased in
exceptional cases.

Basis Adjustments (bps) for Single-currency Credits
USD

EUR

JPY

GBP

Regular for small island - service(10-yr grace and 40-yr maturity)
Regular for IDA only - service(6-yr grace and 38-yr maturity)

56

00059

000

Blend - service
Blend - interest
Blend - total

61
12730-59-590-125-125033USDEURJPYGBPTransitional Support - service

0000

Transitional Support - interest

60-64-123

13

Transitional Support - total

60-64-123

13

Hard-term Lending - service

0000

Hard-term Lending - interest

78-44-100

28

Hard-term Lending - total

78-44-100

28

The basis adjustment accounts for the differences in notional interest rates between the currencies. For any given single
currency-credit with a fixed rate, the basis adjustment plus the standard SDR charge for that credit equals the single currency
charge. The basis adjustment is applied to ensure that the present value of total cash flows of the single-currency credit
equals the present value of the equivalent SDR credit. Please note that basis adjustment for IDA service charges cannot belower than zero since IDA applies a floor of 75 bps for the service charge on single-currency credits for all currencies.

ii)

Floating rates for Transitional Support Window and Hard-term Lending Single-currency Credits(Effective as of January 15, 2016)

USD

EUR

JPY

GBP

Reference market rate (6-month)

LIBOR

EURIBOR

LIBOR

LIBOR

IBRD fixed spread

145 bps130 bps

110 bps140 bps

minus 100 bps-100 bps-100 bps-100 bps-100 bps

plus 75 bps service charge+ 75 bps+ 75 bps+ 75 bps+ 75 bps

plus transaction fee+ 1 bps+ 1 bps+ 1 bps+ 1 bps

IDA fixed spread

121 bps

106 bps

86 bps116 bps

Total*LIBOR+1.21%

EURIBOR+1.06%

LIBOR+0.86%

LIBOR+1.16%

Transitional Support

Hard-term
Reference market rate (6-month)

LIBOR

EURIBOR

LIBOR

LIBOR

IBRD fixed spread

145 bps130 bps

110 bps

140 bpsminus 200 bps-200 bps-200 bps-200 bps-200 bps

plus 75 bps service charge+ 75 bps+ 75 bps+ 75 bps+ 75 bps

plus transaction fee+ 1 bps+ 1 bps+ 1 bps+ 1 bps

21 bps

6 bps-14 bps

16 bpsLIBOR+0.21%

EURIBOR+0.06%

LIBOR-0.14%

LIBOR+0.16%

IDA fixed spread

Total** For the floating rate option, the pricing methodology follows IBRD’s approach of setting the Fixed Spread at signing, andthe rates are subject to the IBRD spreads that are prevailing at that time. The Borrower shall pay a transaction fee set at 1bps per annum. This fee shall be added to the interest rate. A commitment charge of between 0 and 50 bps would also beapplied (currently nil). Floating rate credits will be subject to a floor of 0 bps floor on interest rates. In addition, in case ofprepayments, IDA will pass on to the floating rate borrower the costs or gains from the swap terminations.