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À PROPOS DE LA BID

Prêts déterminés par la politique (PDPs)

Ces prêts fournissent un support plus flexible pour des changements institutionnels et politiques au niveau du secteur ou sous-secteur à travers un déboursement plus rapide des fonds. Sous demande de l’emprunteur, un prêt d’ajustement du secteur peut inclure des composantes d’investissement, qui dans ce cas se transforme en un prêt hybride.

Policy-based Instruments

MULTI-TRANCHE POLICY-BASED LOANS

These loans are disbursed in several tranches, when the policy conditions linked to each tranche are completed and verified. Multi-tranche PBLs require that all the policy/institutional reforms necessary to achieve a program’s objective be defined before the project is approved. Ideally, there is very little uncertainty regarding the policy/institutional reforms and their sequencing to achieve the programs objectives.

PROGRAMMATIC POLICY-BASED LOANS

These loans support a framework of reforms/institutional changes to be executed in phases. Funds are disbursed in a series of single tranches over the medium term (three to five years). There are specified triggers for moving from one operation to the next.

Policy-based Lending Approach

DEFERRED DRAW-DOWN OPTION

The deferred draw-down option can be used with both multi-tranche and programmatic PBLs. It permits PBL resources to be drawn down over a period of three years after the borrower complies with the agreed-upon policy conditions. This gives borrowers flexibility by providing the resources in the amounts, and at the time, that meets their needs most effectively. The draw-down period can be extended for an additional three years. During the draw-down period, the borrower must maintain policy conditions and sustainable macroeconomic policies.