What is PRGF?
The PRGF is the IMF's concessional facility for low income
countries. It is intended that PRGF-supported programs will in time
be based on country-owned poverty reduction strategies adopted in a
participatory process involving civil society and development
partners, and articulated in a PRSP. This is to ensure that each
PRGF-supported program is consistent with a comprehensive framework
for macroeconomic, structural, and social policies to foster growth
and reduce poverty. PRGF loans carry an annual interest rate of 0.5
percent, and are repayable over 10 years with a 5.5-year grace
period on principal payments.