IFAD's project design cycle

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In accordance with the decisions reached by the Executive Board at its September 2009 session, IFAD hereby publishes the interest rates effective for the first semester of 2012.

As of January 2010, IFAD re-calculates its annual reference interest rate each semester - on the first business day of January and on the first business day of July. The IFAD reference rate applicable to loans on ordinary terms is based on a SDR LIBOR/ EURIBOR (for euro) 6-month composite rate of the four currencies which constitute the SDR basket (United States Dollar, Japanese Yen, Euro and Great Britain Pound), plus a variable spread. The spread applied by IFAD is a weighted average of the spreads applied by the IBRD to its variable rate loans for the same semester.

The interest rate applied for loans on intermediate terms is 50% of the reference rate.

Period 1/1/2012-30/06/2012
Terms	Interest Rate
Ordinary	1.39%
Intermediate	0.69%

 

Interest rate applied for Spanish Food Security Co Financing Facility Trust Fund loans on ordinary and intermediate terms - First semester of 2012

Period  1/1/2012-30/06/2012
Terms	Interest Rate
Ordinary	1.89%
Intermediate	0.94%

 

Calculation of spanish trust fund interest rates for the first semester of 2012
The Executive Board at its May 2011 session approved the calculation of the IFAD reference rate applicable to loans from the Spanish Food Security Co financing Facility Trust Fund. The calculation shall be the six-month EURIBOR plus the International Bank for Reconstruction and Development (IBRD) Euro spread (variable interest rate/variable spread loans).

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