Financial credits: Indicative Financial Terms

Terms/conditions/ Types of FCs Stabilization credits for low-income member states Sovereign loans for middle-income member states
Interest rate (%, annually)
1-3%   LIBOR
Spread (over basic interest rate)
none   Variable spread calculated for each 6-month accrual period as a difference between the cost of funding for Russia and Kazakhstan on the international markets and LIBOR
Front-end fee (% of the amount of commitment)
none none
Commitment fee (%, annually)
none none
Maturity (years)
up to 20   up to 10
Grace period (years)
up to 5 up to 5
Duration of the Programme (years)
up to 3   up to 3
Requirements of co-financing by the Recipient
none none

While setting credits financial terms, the EFSD Council considers IMF programmes recommendations on the long-term debt sustainability of a country.