The Inter-American Development Bank today announced reductions in its lending rates on the convertible-currency portion of loans from ordinary capital for the first semester of 2002 as well as waivers of inspection and credit fees.
The reduction is retroactive to Jan. 1, 2002.
For outstanding balances of currency-pool adjustable rate loans approved after Jan. 1, 1990, the annual lending rate is 5.58 percent for the first semester of 2002, compared with 6.29 percent in the second semester of 2001.
The lending rate applicable to outstanding balances of adjustable rate loans in U.S. dollars from the single currency facility (SCF) is 6.19 percent in the first semester of 2002, compared with 6.97 percent for the second semester of 2001.The lending rate for SCF loans in euros applicable during the first semester of 2002 is 5.38 percent, compared with 6.09 percent in the second semester of 2001.
The lending rate for SCF loans in Japanese yen for the first semester of 2002 is 1.45 percent, compared with 2.07 percent in the second semester of 2001.
The new lending rate for SCF loans in Swiss francs is 3.76 percent, compared with 4.48 percent in the second semester of 2001.
The credit fee of 0.75 percent on the undisbursed balance of signed loans and the inspection fee of 1 percent will be waived during the first semester of 2002. Both fees were applied in full during all of 2001.