This memorandum provides the quarterly update of IBRD’s lending rates and spreads pursuant to the standard loan pricing as defined in the Bank Policy and Directive Financial Terms and Conditions of Bank Financing. The Average Funding Spreads applicable to the IBRD Flexible Loan (IFL) effective between January 1, 2022 and March 31, 2022 have been determined based on the new applicable alternative reference rates at the following levels: EUR denominated...
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