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 31.01.2025
| Beneficiary | currency of issuance | circulating amount |
|---|---|---|
| African Development Fund (AfDF)** | EUR | 10.766.027,00 |
| Asian Development Bank (ADB)* | EUR | 0,00 |
| Asian Development Fund (ADF)** | EUR | 0,00 |
| Global Environment Fund (GEF)** | EUR | 1.011.500,00 |
| International Development Association (IDA)** | EUR | 90.884.750,00 |
| Multilateral Investment Guarantee Agency (MIGA)* | USD | 120.812,40 |
| Total : | 102.783.089,40 |
1 EUR = 1,0389 USD
(*) Called in subscribed capital, not yet cashed in
(**) Resources’ replenishments (donations)
Evolution of the outstanding of Promissory Notes
from 2024 to 2028 (in EUR)
| year | scheduled issuances | scheduled collections | outstanding (as of 31.12) |
|---|---|---|---|
| 2025 | 32.031.933,00 | 34.713.180,00 | 77.238.292,40 |
| 2026 | 47.739.933,00 | 29.771.220,00 | 94.807.005,40 |
| 2027 | 41.739.933,00 | 31.837.591,00 | 104.709.347,40 |
| 2028 | 41.740.934,00 | 33.622.964,00 | 112.827.317,40 |
| 2029 | 0,00 | 24.156.672,00 | 88.670.645,40 |
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