The Fund extended 5 loans to its borrowing member countries in 2018, with a total value amounting to approximately AAD 189 million, equivalent to US $793 million. The loans are three loans within the framework of SME’s Conducive Environment Support Facility, for the Republic of the Sudan, amounting to AAD 22.800 million, the Arab Republic of Egypt, valued at AAD 87.700 million, and the Republic of Tunisia valued at AAD 18.532 million, in addition to two compensatory loans for the Kingdom of Morocco, valued at AAD 41.125 million, and the Republic of Tunisia, worth AAD 18.532 million, to support balance of payments.
Adding the value of the new loans that the Fund extended to its member countries during 2018 to the loans extended since the inception of the lending activity in 1978, the total value of the loans provided by the Fund to its member countries, up to the end of 2018, amounts to AAD 2.323 billion, equivalent to about US $10 billion. The number of member countries benefited from the 184 loans extended by the Fund since 1978 reaches 14 countries.
Loans extended by the Fund to support the balance of payments (Automatic, Extended, Ordinary, and Compensatory) were at the forefront of the facilities provided by the Fund since the beginning of its lending activity in 1978, representing 60.3 percent of the total loans provided. The Structural Adjustment Facility extended for both the banking and financial sector and the public finance sector came second with a share of 29.9 percent. The Trade Facility accounted for 2.8 percent, and the Oil Facility stood at 1.4 percent, while the SME’s Conducive Environment Support Facility recorded 5.6 percent.
The total disbursements on contracted loans amounted to AAD 173.203 million during 2018, compared to AAD 53.920 million during 2017. In line with loan repayment schedules, borrowing member countries repaid a total of AAD 157.223 million during 2018, representing installments on contracted loans. As a result, the balance of outstanding loans amounted to about AAD 502.558 million, at the end of 2018, compared to AAD 486.578 million at the end of 2017.