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 31.08.2023
| Beneficiary | currency of issuance | circulating amount |
|---|---|---|
| African Development Fund (AfDF)** | EUR | 17.980.257,00 |
| Asian Development Bank (ADB)* | EUR | 0,00 |
| Asian Development Fund (ADF)** | EUR | 0,00 |
| Global Environment Fund (GEF)** | EUR | 2.218.925,00 |
| International Development Association (IDA)** | EUR | 76.047.500,00 |
| Multilateral Investment Guarantee Agency (MIGA)* | USD | 115.508,93 |
| Total : | 96.362.190,93 |
1 EUR = 1,0866 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) |
|---|---|---|---|
| 2023 | 11.697.924,00 | 31.507.048,00 | 91.358.205,93 |
| 2024 | 61.210.000,00 | 42.048.970,00 | 110.519.235,93 |
| 2025 | 0,00 | 34.114.180,00 | 76.405.055,93 |
| 2026 | 0,00 | 22.357.920,00 | 54.047.135,93 |
| 2027 | 0,00 | 18.390.091,00 | 35.657.044,93 |
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