IDA Terms(Effective as of November 5, 2016)

Maturity b/

Grace
PeriodPrincipal Repayments i/

Acceleration
Clause c/

Year 7 - 20

Year 21 - 38

NANANANA38

63.125%3.125%

Yes

Blend e/ p/25

53.3% f/

6.7% g/Yes

Hard Term Lending h/25

53.3% f/

6.7% g/Yes

55.0%f/5.0%g/

Noj/

5.5%k/

No

Grantsa/

NAd/ p/Regular

Transitional Supportp/

25p/

24

55.0%

Scale-up Facility Option 2 p/

27

85.0% l/5.5% m/No30

94.7%n/o/

NoNANANA

Scale-up Facility Option 1

Scale-up Facility Option 3
Guarantees

p/

4.9%
NANA

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 where
per capita income remains above eligibility thresholds. IDA credits on hardened terms (approved during IDA13-IDA15) areexempt 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/
Debt service payment dates are the 1st or 15th day of a month and semi-annually thereafter, as decided by the recipient
during credit negotiation.
j/Year 6-14.
k/Year 15-24.
l/Year 9-17.
m/
Year 18-27.
n/Year 10-23.5.
o/Year 24-30.
p/
As the new SDR basket goes into effect as of October 1, 2016, IDA’s lending terms, starting in the second quarter of FY17,
will be determined using this new definition of SDR. That is, the fixed SDR rates for the Transitional Support and the Scale-Up
Facility credits and the single-currency rates for the IDA Regular and Blend terms credits are calculated using the following
amounts of the following currencies: 0.58252 U.S. dollars, 0.38671 Euros, 1.0174 Chinese yuans, 11.9 Japanese yens, and0.085946 Pound sterlings. Because some of the inputs for the calculation of the rates under the new SDR definition (IBRD’s
fixed spread and market swap rates beyond the 10 year maturity for the Chinese yuan) are not available, IDA determinessuch inputs through estimation based on available market data.

i) Fixed Rates for FY17 Q2 - For credits approved between October 1, 2016 and December 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)

1.33%

0.75%

0.75%0.75%

0.75%

1.33%

0.75%

0.75%

0.75%

0.75%

Blend - service
Blend - interest

1.33%
1.34%

0.75%
0.41%

0.75%
00.75%
0.80%

0.75%
1.25%

Blend - total

2.67%

1.16%

0.75%

1.55%

2.00%

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

EUR

JPY

GBP

SDR

Transitional Support - service

0.75%

0.75%

0.75%

0.75%

0.75%

Transitional Support - interest

2.39%

1.05%

0.49%

1.43%

1.92%

Transitional Support - total

3.14%

1.80%

1.24%

2.18%

2.67%

Hard-term Lending - service

0.75%

0.75%

0.75%

0.75%

0.75%

Hard-term Lending - interest

1.43%

0.10%

00.45%

1.13%

Hard-term Lending - total

2.18%

0.85%

0.75%

1.20%

1.88%

Notes:
1 - Fixed rates for single-currency credits are calculated and published quarterly. Credits approved in each quarter will be
subject 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 75
bps 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 inexceptional 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)

58

00058000

Blend - service
Blend - interest
Blend - total

58
9670-84-840-125-1250-45-45

USD

EURJPYGBPTransitional Support - service

0000

Transitional Support - interest

47-87-14349Transitional Support - total

47-87

-143

49

Hard-term Lending - service

0000

Hard-term Lending - interest

30-103-113-68

Hard-term Lending - total

30-103-113-68

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 currencycharge. 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 November 5, 2016)

USD

EUR

JPY

GBP

Reference market rate (6-month)

LIBOR

EURIBOR

LIBOR

LIBOR

IBRD fixed spread

155 bps

140 bps

120 bps

150 bpsminus 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

131 bps

116 bps

96 bps126 bps

Total*LIBOR+1.31%

EURIBOR+1.16%

LIBOR+0.96%

LIBOR+1.26%

Transitional SupportHard-term
Reference market rate (6-month)

LIBOR

EURIBOR

LIBOR

LIBOR

IBRD fixed spread

155 bps

140 bps

120 bps

150 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

31 bps

16 bps-4 bps

26 bpsLIBOR+0.31%

EURIBOR+0.16%

LIBOR-0.04%

LIBOR+0.26%

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.

iii) Scale-up Facility Rates for FY17 Q2Fixed Rates - For credits approved between November 5, 2016 and December 31, 2016
USD

EUR

JPY

GBP

SDR

Option 1: 24/5

3.14%

1.78%

1.23%

2.17%

2.68%

Option 2: 27/8

3.43%

2.13%

1.58%

2.46%

3.01%

Option 3: 30/9

3.57%

2.26%

1.71%

2.57%

3.15%

Floating Rates - Effective as of November 5, 2016
Floating Rate with a Fixed Spread
USD

EUR

JPY

GBP

Option 1: 24/5

LIBOR+1.30%

EURIBOR+1.15%

LIBOR+0.95%

LIBOR+1.25%

Option 2: 27/8

LIBOR+1.55%

EURIBOR+1.40%

LIBOR+1.20%LIBOR+1.50%

Option 3: 30/9

LIBOR+1.65%

EURIBOR+1.50%

LIBOR+1.30%

LIBOR+1.60%

Floating Rate with a Variable Spread
USD

EUR

JPY

GBP

Option 1: 24/5

LIBOR+0.71%

EURIBOR+0.71%

LIBOR+0.71%

LIBOR+0.71%

Option 2: 27/8

LIBOR+0.81%

EURIBOR+0.81%

LIBOR+0.81%

LIBOR+0.81%

Option 3: 30/9

LIBOR+0.91%

EURIBOR+0.91%

LIBOR+0.91%

LIBOR+0.91%

All Scale-up Facility credits are subject to an all-in-rate floor of 75bps. For the floating rate option, the pricing methodology
follows IBRD’s approach of setting the Fixed Spread at signing, and the rates are subject to the IBRD spreads that are prevailingat that time. Scale-up Facility credit fees include a one-time front-end fee of 0.25% and a commitment fee of 0.25%. The
front-end fee is charged on the committed amount. The commitment fee is charged on the undisbursed amount of the credit.
The commitment fee is payable semi-annually once the credit is effective.