Giving partial credit where partial credit is due: Recent developments in the multilateral development bank partial credit guarantee

From: Law and Policy in International Business | Date: October 1, 2002| Author: | Copyright information

I. INTRODUCTION

Over the past decade, multilateral development banks (MDBs)1 have introduced the partial credit guarantee and developed it into an innovative and flexible financial instrument that can be specifically tailored to support borrowings by their respective member countries. Under a traditional partial credit guarantee, an MDB, as guarantor, agrees to guarantee the payment of all or a portion of a particular debt of a member country or its political subdivision in the event of non-payment by the borrower for any reason.2 Partial credit guarantees historically have been offered to ...

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