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 28.02.2021)
Beneficiary |
Currency |
Circulating amount |
|---|---|---|
| African Development Fund (AfDF)** | EUR | 16.261.898,00 |
| Asian Development Bank (ADB)* | EUR | 0,00 |
| Asian Development Fund (ADF)** | EUR | 8.774.729,00 |
| Global Environment Fund (GEF)** | EUR | 5.151.850,00 |
| International Development Association (IDA)** | EUR | 124.872.500,00 |
| Multilateral Investment Guarantee Agency (MIGA)* | USD | 102.283,43 |
| Total : | 155.163.260,43 |
1 EUR = 1,2271 USD
(*) Called in subscribed capital, not yet cashed in
(**) Resources’ replenishments (donations)
Evolution of the outstanding of Promissory Notes
from 2020 to 2025 (in EUR)
Year |
Scheduled issuances |
Scheduled collections |
Outstanding |
|---|---|---|---|
2021 |
4.733.729 |
32.219.620,63 |
129.012.278,06 |
2022 |
0,00 |
22.888.218,99 |
106.124.059,07 |
2023 |
71.760.000,00 |
28.870.540,86 |
148.993.518,21 |
2024 |
0,00 |
32.325.461,54 |
116.688.056,67 |
2025 |
0,00 |
29.978.471,43 |
87.689.585,25 |