Promissory Notes
Promissory Notes issued by the State (central Government) do not correspond to funds borrowed and repayable thereafter. Promissory Notes document multi-year financial commitments made by the State vis-à-vis international financial institutions. These are non-negotiable, they do not bear interest and are generally cashed at the request of the financial institutions holding them and according to a predefined schedule.
Outstanding of Promissory Notes (in EUR), as of 28.02.2023
| Beneficiary | currency of issuance | circulating amount |
|---|---|---|
| African Development Fund (AfDF)** | EUR | 11.489.061,00 |
| Asian Development Bank (ADB)* | EUR | 0,00 |
| Asian Development Fund (ADF)** | EUR | 0,00 |
| Global Environment Fund (GEF)** | EUR | 2.760.375,00 |
| International Development Association (IDA)** | EUR | 86.307.500,00 |
| Multilateral Investment Guarantee Agency (MIGA)* | USD | 133.871,10 |
| Total : | 100.690.807,10 |
1 EUR = 1,0666 USD
(*) Called in subscribed capital, not yet cashed in
(**) Resources’ replenishments (donations)
Evolution of the outstanding of Promissory Notes
from 2023 to 2027 (in EUR)
| year | scheduled issuances | scheduled collections | outstanding (as of 31.12) |
|---|---|---|---|
| 2022 | 61.210.000,00 | 33.917.740,00 | 138.477.946,19 |
| 2024 | 0,00 | 31.599.662,00 | 106.878.284,19 |
| 2025 | 0,00 | 29.974.872,00 | 76.903.412,19 |
| 2026 | 0,00 | 22.357.920,00 | 54.545.492,19 |
| 2027 | 0,00 | 18.390.091,00 | 36.155.401,19 |
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