IBRD/IDA and Blend Countries: Per Capita Incomes, Lending Eligibility, IDA Repayment Terms

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1 Page 1 of 7 Note: This OP 3.10, Annex D replaces the version dated September The revised terms are effective for all loans that are approved on or after July 1, IBRD/IDA and Blend Countries: Per Capita s, Eligibility, and Repayment Terms For questions on per capita income estimates, please contact the Director, DECDG For questions on IDA eligibility and IDA terms, the Director, DFIRM For questions on creditworthiness and IBRD terms, the Director, CROCR For questions on customized IBRD terms, the Director, FABDR The following 2013 per capita income guidelines apply for operational purposes: (i) US$1,045 or less for granting civil works preference to eligible domestic contractors in evaluating civil works bids procured under international competitive bidding (see OP/BP 11.00, Procurement); (ii) US$1,215 as the operational cutoff for IDA eligibility; [US$1,985 as the historical ceiling for IDA eligibility;] (iii) US$1,215 or more for IBRD terms; (iv) US$7,185 or more for initiating the IBRD graduation process. 5 6 Afghanistan 700 i IDA 2,3 LDC % Albania 4,640 Algeria 5,290 Angola 5,010 iii IBRD LDC Antigua and Barbuda 12,900 Argentina NA Armenia 3,800 Azerbaijan 7,350 Bangladesh 900 i IDA 2,3 LDC % Belarus 6,720 Belize 4,660 Benin 790 i IDA 2,3 LDC % Bhutan 9 2,430 iii IDA 2,3 LDC % Bolivia 11 2,550 iii Blend % Bosnia and 4,740

2 Page 2 of 7 Herzegovina 5 6 Botswana 7,730 Brazil 11,730 Bulgaria 7,030 Burkina Faso 670 i IDA 2,3 LDC % Burundi 280 i IDA 2,3 LDC % Cabo Verde 8 3,630 iii Blend % Cambodia 950 i IDA 2,3 LDC % Cameroon 11 1,270 iii Blend % Central African i IDA 2,3 LDC % Republic 320 Chad 1,020 i IDA 2,3 LDC % Chile 15,230 China 6,550 Colombia 7,560 Comoros 880 i IDA 2,3 LDC % Congo, Democratic Republic 400 i IDA 2,3 LDC % Congo, Republic of 11 2,660 iii Blend % Costa Rica 9,550 Cote d'ivoire 10 1,380 iii IDA 2, % Croatia 13,370 Djibouti 9 NA iii IDA 2,3 LDC % Dominica 8 6,760 iii Blend % Dominican Republic 5,620 Ecuador 5,510 Egypt, Arab Republic of 3,160 El Salvador 3,660 Equatorial iv IBRD LDC Guinea 14,320 Eritrea i IDA 2,3 LDC Ethiopia i IDA 2,3 LDC % Fiji 4,430 Gabon 10,650

3 Page 3 of Gambia, The 510 i IDA 2,3 LDC % Georgia 3,570 Ghana 9 1,760 iii IDA 2, % Grenada 8 7,460 iv Blend % Guatemala 3,330 Guinea 460 i IDA 2,3 LDC % Guinea-Bissau 520 i IDA 2,3 LDC % Guyana 9 3,750 iii IDA 2, % Haiti 810 i IDA 2,3 LDC % Honduras 9 2,200 iii IDA 2, % India 15 1,560 iii IBRD % Indonesia 3,580 Iran, Islamic Republic of 5,780 Iraq 6,710 Jamaica 5,220 Jordan 4,940 Kazakhstan 11,380 Kenya 930 i IDA 2, % Kiribati 8 2,620 iii IDA 2,3 LDC % Korea, Republic of 25,920 Kosovo, Republic of 9 3,890 iii IDA 2, % Kyrgyz Republic 1,200 ii IDA 2, % Lao PDR 10 1,460 iii IDA 2,3 LDC % Lebanon 9,870 Lesotho 9 1,550 iii IDA 2,3 LDC % Liberia 410 i IDA 2,3 LDC % Libya NA Macedonia, FYR of 4,800 Madagascar 440 i IDA 2,3 LDC % Malawi 270 i IDA 2,3 LDC % Malaysia 10,390 Maldives 8 5,610 iii IDA 2, %

4 Page 4 of Mali 670 i IDA 2,3 LDC % Marshall Islands 8 4,200 iii IDA 2, % Mauritania 1,090 ii IDA 2,3 LDC % Mauritius 9,300 Mexico 9,940 Micronesia, Fed. iii IDA 2, % Sts. Of 8 3,440 Moldova 11 2,440 iii Blend % Mongolia 11 3,530 iii Blend % Montenegro 7,220 Morocco 3,030 Mozambique 590 i IDA 2,3 LDC % Myanmar NA i IDA 2,3 LDC % Namibia 5,840 Nepal 730 i IDA 2,3 LDC % Nicaragua 10 1,780 iii IDA 2, % Niger 410 i IDA 2,3 LDC % Nigeria 11 2,760 iii Blend % Pakistan 11 1,380 iii Blend % Palau 10,980 Panama 10,700 Papua New iii Blend % Guinea 11 2,010 Paraguay 4,040 Peru 6,420 Philippines 3,270 Poland 12,970 Romania 9,060 Russian Federation 13,860 Rwanda 620 i IDA 2,3 LDC % Samoa 8 3,430 iii IDA 2, % Sao Tome and iii IDA 2,3 LDC % Principe 8 1,470 Senegal 1,070 ii IDA 2,3 LDC % Serbia 5,720

5 Page 5 of Seychelles 12,530 Sierra Leone 680 i IDA 2,3 LDC % Solomon iii IDA 2,3 LDC % Islands 10 1,610 Somalia 7 NA i IDA 2,3 LDC South Africa 7,190 South Sudan 1,120 ii IDA 2,3 LDC % Sri Lanka 11 3,170 iii Blend % St. Kitts and Nevis 13,460 St. Lucia 8 7,090 iii Blend % St. Vincent and iii Blend % the Grenadines 8 6,580 Sudan 7 1,130 ii IDA 2,3 LDC Suriname 9,260 Swaziland 3,080 Syrian Arab Republic7 NA Tajikistan 980 i IDA 2, % Tanzania 630 i IDA 2,3 LDC % Thailand 5,390 Timor-Leste 11 3,580 iii Blend 2 LDC % Togo 530 i IDA 2,3 LDC % Tonga 8 4,490 iii IDA 2, % Trinidad and Tobago 15,760 Tunisia 4,360 Turkey 10,950 Turkmenistan 6,880 Tuvalu 8 6,510 iii IDA 2,3 LDC % Uganda 510 i IDA 2,3 LDC % Ukraine 3,960 Uruguay 15,200 Uzbekistan 11 1,900 iii Blend % Vanuatu 8 3,120 iii IDA 2,3 LDC % Venezuela, RB de 12,550

6 Page 6 of Vietnam 11 1,730 iii Blend % Yemen, Republic of 10 1,330 iii IDA 2,3 LDC % Zambia 10 1,480 iii IDA 2,3 LDC % Zimbabwe i Blend Key NA = Estimates are available in ranges only A = Annuity LRP = Level s of principal 1. World Bank Atlas methodology; 2013 per capita GNI (Gross National, formerly GNP) figures are in U.S. dollars. 2. Countries are eligible for IDA on the basis of (a) relative poverty and (b) lack of creditworthiness. The operational cutoff for IDA eligibility for FY15 is a 2013 capita of US$1,215, using Atlas methodology. To receive IDA resources, countries must also meet tests of performance. An exception has been made for some small island economies (see footnote 8). In exceptional circumstances, IDA also extends eligibility temporarily to countries that are above the operational cutoff and are undertaking major adjustment efforts but are not creditworthy for IBRD lending. 3. IDA-only countries except for limited IBRD lending for enclave projects. 4. Countries that are classified as least developed countries (LDCs) by the United Nations (see OP 3.10, para. 39). 5. IDA regular term credits approved on or after July 1, 2014 will have a 6-year grace period. IDA blend term and hard-term credits will continue to have a 5-year grace period, and IDA regular term credits for small island economies will continue to have a 10-year grace period. 6. Effective from July 1, 2014, the for IDA regular credits is 38 years with principal repayable at percent per annum for years The for IDA regular credits for small island economies will continue to be 40 years with principal repayable at 2 percent per annum for years and 4 percent per annum for years Effective from July 1, 2011, the formerly blend and hardened terms have been consolidated into one blend credit instrument with a of 25 years, a grace period of 5 years, a 1.25 interest charge, and with principal repayable at 3.3 percent per annum for years 6-15 and 6.7 percent per annum for years The new blend terms apply to credits approved on or after July 1, In addition to credits in new blend terms, some countries are also eligible for hard-term IDA credits; please refer to footnote 11 for further information. IDA credits include an acceleration clause, providing for the possibility of doubling of principal payments from creditworthy borrowers where per capita income remains above eligibility thresholds. 7. Loans/credits in nonaccrual status as of July 1, Their grant eligibility will be determined when these countries reengage with IDA. General information on countries with loan/credits in nonaccrual status is available from the Credit Risk Department in Finance Partners. 8. IDA eligible countries under the small island economy exception. For credits approved on or after July 1, 2011, the financing terms for the small island blend countries are changed from blend credit terms to regular IDA credit terms. 9. The capita has been above the operational cutoff for IDA eligibility for more than two consecutive years, therefore the borrower will be subject to IDA lending on blend terms. 10. The country s capita has been above the IDA operational cutoff for either one or two years, and the borrower will continue to access IDA resources on regular terms until the capita continuously exceeds the cutoff for three years. 11. Countries eligible for hard-term IDA credits as defined in IDA16, effective July 1, These are all countries eligible for IBRD/IDA blend financing, excluding small islands. These resources are additional to a country s regular performance based allocation. The access to hard-term credits is expanded in proportion to the countries performancebased allocation. The of hard-term credits is 25 years, with a 5 year grace period, and a 3.3 percent of principal

7 Page 7 of 7 repayable per annum for years 6-15 and 6.7 percent per annum for years Standard IDA service and commitment charges apply plus a fixed interest charge for the life of each credit. The interest rate is set annually and applies to new credits approved in that year, then fixed for the duration of that credit. For credits approved on or after July 1, 2014 and before July 1, 2015, the interest rate is 1.83 percent. 12. eligibility varies by fiscal year and is based on the IDA grant framework in accordance with the IDA16 Agreement entitled Additions to IDA Resources: Sixteenth Replenishment IDA16: Delivering Development Results (February 15, 2011). 13. The new IBRD structure will not apply to loans that meet both the following conditions: (i) the Invitation to Negotiate is issued on or before June 30, 2014; and (ii) the Executive Directors approve the loan on or before September 30, IDA s financing terms reflect the application of NCBP remedies. 15. During IDA17 India will receive exceptional transitional support from IDA. The for transitional support credits is 25 years, with a 5 year grace period and principle repayable at 5 percent per annum for years Transitional support credits are exempt from the accelerated clause. Changes during previous fiscal year 1. Sao Tome and Principe has been granted the small island exception, effective in FY14, as it meets the criteria established by the 1985 decision for granting exceptions to small island countries, which is discussed in Board document IDA/R85-134, Terms of to Small Island Economies Graduating from IDA. 2. Effective July 16, 2013, IBRD loans to or guaranteed by the Islamic Republic of Iran were placed in non-performing status. Effective September 27, 2013, IBRD loans to or guaranteed by the Islamic Republic of Iran were restored to performing status. 3. Moldova changed from IDA-only borrower to Blend borrower status, effective September 5, Angola changed from IDA-only borrower to Blend borrower status, effective September 26, Nigeria changed from IDA-only borrower to Blend borrower status, effective April 24, Republic of Congo changed from IDA-only borrower to Blend borrower status, effective June 3, Cameroon changed from IDA-only borrower to Blend borrower status, effective June 3, Angola, Armenia, Bosnia and Herzegovina, Georgia and India changed from a Blend borrower to IBRD borrower status, effective FY15.