Lending Rates for IBRD Flexible Loans Approved By June 30, 2010 (5)

Note: The base lending rate for IBRD Flexible Loans is the six-month LIBOR. Visit the website of the British Bankers' Association for historical LIBOR rates.

1. The variable spread is recalculated every January 1 and July 1. Variable spreads as shown in the first table above are based on the applicable spread for the interest period between January 1, 2010 and June 30, 2010 to illustrate the impact of maturity premiums on IFLs with a variable spread approved after June 30, 2010. Variable spreads for rate setting between July 1, 2010 and Dec. 31, 2010 will be posted upon availability.
2. The fixed spread is determined at loan signing and remains constant over the life of the loan. 
3. As measured by average repayment maturity of the loan at commitment
4. Development Policy Loans with a Deferred Drawdown Option (DPL DDO) carry a 0.75 percent front-end fee, plus a 0.50 percent renewal fee; and Catastrophe Risk or Cat DDOs carry a 0.50 percent front-end fee, plus a 0.25 percent renewal fee.
5. For loans for which the Invitation to Negotiate was issued prior to July 23, 2009, and which have been approved by the Executive Directors by November 30, 2009, the lending rate will be 0.20% lower based on a contractual spread of 0.30%.
6. The variable spread is adjusted every six months. The variable spread in the second table above applies to rate settings from January 1, 2010 through June 30, 2010.

Financial Terms for IBRD Special Development Policy Loans