Average grant element on new external debt commitments (%)

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The grant element of a loan is the grant equivalent expressed as a percentage of the amount committed. It is used as a measure of the overall cost of borrowing. To obtain the average, the grant elements for all public and publicly guaranteed loans have been weighted by the amounts of the loans. The grant equivalent of a loan is its commitment (present) value, less the discounted present value of its contractual debt service; conventionally, future service payments are discounted at 10 percent. Commitments cover the total amount of loans for which contracts were signed in the year specified. Public debt is an external obligation of a public debtor, including the national government, a political subdivision (or an agency of either), and autonomous public bodies. Publicly guaranteed debt is an external obligation of a private debtor that is guaranteed for repayment by a public entity. Data for private nonguaranteed debt are not available.
Source: The World Bank: World Development Indicators    # of Reporting Countries: 135
Frequency: Annual    Earliest: 1970-12     Latest: 2016-12

2009-12 2010-12 2011-12 2012-12 2013-12 2014-12 2015-12 2016-12
1) Afghanistan
53.1
96.3
2) Albania
44.94
20.1
52.2
54.7
51.9
63.4
27.4
59.9
3) Algeria
56.83
68
61.3
4) Angola
14.96
21.7
6.46
23.1
15.8
24.3
57.7
41.5
5) Argentina
51.3
63.9
56.4
44.2
22.9
34.6
4.5
6) Armenia
48.4
52.5
64.6
56.5
34.5
59.2
52.1
56.4
7) Azerbaijan
57.34
44.2
54.2
39.9
58.3
60.3
38.4
48.7
8) Bangladesh
54.84
71.7
68.4
56
77.5
74.5
71.6
63.3
9) Belarus
32.87
15.9
46
19.7
25.5
23.7
31.2
28.3
10) Belize
54.67
55.3
45.3
67.3
55.2
44.9
56.1
57.3
11) Benin
70.36
71.1
69.1
75
58.7
54.2
50
56.1
12) Bhutan
39.23
-0.86
76.9
42
68.8
59.9
66.8
70.3
13) Bolivia
45.67
54.3
53.5
48.5
45.9
55
46.8
51
14) Bosnia Herzegovina
49.32
61.7
46.4
54
54.6
59.7
55.5
53.3
15) Botswana
63.4
62
80.9
39.3
23.4
16) Brazil
32.87
45.1
29.1
43.5
34.2
36
25.3
38.9
17) Bulgaria
51.62
50.8
37.6
24.2
48.9
44.1
48.9
43.8
18) Burkina Faso
70.89
71.2
63.8
70.9
62.2
60.9
70.8
70.3
19) Burundi
73.39
66.7
76.9
75.4
68.6
75
66.3
20) Cambodia
67.55
64
69
59
66.4
67.7
71.8
70.3
21) Cameroon
68.28
73.7
53.8
51
60.6
61.2
33.2
47.7
22) Cape Verde
68.84
71.2
66.3
78.7
63.7
71.5
72.3
80.6
23) Central African Republic
74.15
69.8
68.3
79.5
63.9
72
73.9
24) Chad
42.66
21
45
47.5
7.17
39.2
28.2
76
25) China
47.74
41.5
63.1
63.3
49.9
57.1
52.6
51.5
26) Colombia
33.72
38.7
39.1
35.6
42.9
55.2
49
46
27) Comoros
73.1
71.6
28) Congo
60.62
64
27.1
49.1
57.3
46.5
67
40.1
29) Costa Rica
42.02
8.92
30.2
34.4
31.2
39.3
28.9
32
30) DR Congo
72.74
51.7
51.6
52.5
40.5
46.8
66
74.9
31) Djibouti
57.19
56.2
51.2
54
48.4
51.4
47.9
47.2
32) Dominica
59.49
48.5
41.6
46.1
37.4
78.4
50.7
65.7
33) Dominican Republic
42.04
36.6
43.9
62.1
38.5
68.8
35.5
21.3
34) East Asia & Pacific (developing only)
41.01
42.79
49.15
46.32
35) Ecuador
45.83
23.9
24.6
19
47
39.4
31.4
15.4
36) Egypt
60.5
54.4
50.6
44.1
34.1
62.1
40.3
32.7
37) El Salvador
53.13
49
55.2
34.3
40.3
16.7
46.7
46
38) Eritrea
53.65
80.4
80.7
39) Ethiopia
61.15
54.6
53.2
76.8
44.6
48.4
64.9
69.1
40) Europe & Central Asia (developing only)
40.79
37.25
42.12
39.63
41) Fiji
75.65
47.9
18.4
52.8
64.2
43.2
58.2
42) Gabon
21.76
39.1
32.9
53
33.7
62.7
27.6
50.9
43) Gambia
67.72
63.9
52
63.7
58
61.7
64.7
72.4
44) Georgia
71.71
38.3
37
51
65.5
66.9
57.9
55.8
45) Ghana
63.27
56.4
48.7
52
22.1
20.9
18.9
28
46) Grenada
54.68
47.7
60.2
54.6
47.2
75.2
64
68.2
47) Guatemala
59.83
46.9
46.3
63.8
65.3
35.5
64.7
61
48) Guinea Bissau
80.6
67
39
49) Guinea
74.8
57.2
73.1
83
79.9
79.4
76.6
50) Guyana
61.57
63.2
61.7
58.1
65
70.3
65.2
53.8
51) Haiti
61.13
59.8
61.2
61.3
61.2
61.2
61.2
58.7
52) Honduras
52.07
52.4
57.2
70.5
32.3
49.2
65.2
54.6
53) India
54.79
55.8
52.4
48.1
40.1
44.3
40.2
54.7
54) Indonesia
36
37.6
42.7
37.4
39.1
30.7
36.5
38.3
55) Iran
16.99
31.8
6.27
8.49
18.3
-1.1
56) Ivory Coast
44.91
45.2
21.2
29.1
48.3
40.9
45.9
53.8
57) Jamaica
35.08
57.8
28.7
67
50.3
33
26.6
25.7
58) Jordan
47.03
28.6
24.5
47.8
27.4
34.6
41.2
35.3
59) Kazakhstan
55.52
60.3
55.6
40.1
40.9
42.7
30.8
45.4
60) Kenya
71.71
72.9
64
63
66.3
45.1
45.5
46.5
61) Kosovo
51.3
45.9
34.1
51.9
57.6
46.6
62) Kyrgyzstan
67.39
74.5
59.4
61.1
62.1
68.9
68
68.8
63) Laos
56.81
52.6
55.7
61.9
53.4
51
49
44.3
64) Latin America & Caribbean (developing only)
40.81
49.06
49.58
51.47
65) Lebanon
9.65
23.7
24.1
24.2
20.1
22.1
28.7
21
66) Lesotho
77.59
32.8
62.2
54.9
77.2
67.6
80.3
58.4
67) Liberia
80.3
68.8
75.3
71.5
76.2
80.4
69.8
68) Low & middle income
43.54
44.4
45.2
47.7
41.6
45.2
40.8
39.1
69) Low income
65.61
67.8
57.6
68.2
49.7
57.2
62.7
65.5
70) Lower middle income
47.71
46.5
47.4
46.5
44.1
42.7
42.4
47
71) Macedonia
18.72
37.1
32.5
37.3
31.1
44.6
35.6
26.3
72) Madagascar
72.38
28.7
68.8
81.5
72.5
74.7
61.5
70
73) Malawi
67.98
75.5
64.4
74.7
71.7
79.1
73.3
71.4
74) Malaysia
26.09
19
26.7
26.6
30
26
30.8
39.6
75) Maldives
42.5
60
45.7
58.6
57.9
46.1
51.6
34.4
76) Mali
72.64
69.6
70.8
60.1
70.4
64.5
64.2
52.2
77) Mauritania
31.4
52.4
54.9
56.2
60.1
53.2
53.5
55.8
78) Mauritius
54.49
56.3
47.8
51.1
50.4
55.3
53.9
62.4
79) Mexico
47.96
56.1
66.1
63.3
58.5
58.4
42.6
30.4
80) Middle East & North Africa (developing only)
42.06
46.94
43.32
40.87
81) Middle income
42.52
43.6
44.7
47
41.1
44.6
39.7
38.4
82) Moldova
56.02
46.7
54.4
46.9
54.1
64.5
37
56.8
83) Mongolia
80.18
79.4
63.1
54.5
70.9
60.9
61
23.1
84) Montenegro
19.53
20.3
24.9
17.9
22.6
65.1
25.4
18.5
85) Morocco
45.26
48.1
57.4
47.6
51.5
45.3
49.4
58.3
86) Mozambique
68.53
75.9
64.3
52.9
41.8
65.9
80.2
76.2
87) Myanmar
74.2
77.2
72
76
72.5
88) Nepal
78.02
70.9
64.7
69.6
72.8
71.3
77.5
70.2
89) Nicaragua
46.02
61
52.7
57.9
59.3
70.3
53.3
53
90) Niger
71.1
70.2
68.1
68.9
48
61
57.7
66.1
91) Nigeria
80.66
64.2
44
64.1
60.6
58
61.3
59.7
92) Pakistan
57.71
55
65.5
48.7
56.5
37.3
48.2
42.8
93) Panama
38.96
58.2
47.9
47.2
47.2
38.9
42.3
44.9
94) Papua New Guinea
67.6
76.9
61.3
62.3
66.9
59.9
73.6
42.1
95) Paraguay
52.21
50.6
60.5
64.5
46.6
41.5
53.9
40
96) Peru
41.12
36.3
46.6
50.9
44.2
47.3
46.8
54.3
97) Philippines
28.99
42.3
45.4
55.1
74.2
58.1
45.4
63.8
98) Romania
38.43
31.1
38.5
28
31
45.8
50.6
51
99) Russia
31.2
29.7
40.8
32.9
43.1
22.4
39.9
100) Rwanda
58.49
70.6
73.8
70.7
43.6
69.5
74.2
74.7
101) Saint Lucia
25.51
68.3
60
80.7
60.8
47.7
89.9
102) Samoa
67.4
59.2
59
53.9
80.3
103) Sao Tome and Principe
74.34
66.5
74.6
66.5
79.2
65.9
57.2
104) Senegal
54.79
74.6
35.7
69.9
67.6
48.9
52.7
53.6
105) Serbia
58.42
42.9
31.4
18.9
26.7
52
57.5
38.5
106) Sierra Leone
67.57
74.2
64.9
71.1
74.6
79.3
71
69
107) Solomon Islands
44.14
70
76.8
80.6
70
108) South Africa
48.38
51.7
32.4
37.2
27.9
39.3
31.4
32.2
109) South Asia
54.2
52.7
56.1
49.9
47.8
46.1
47.6
53.6
110) Sri Lanka
42.49
47.2
45
48.8
41.5
44.8
35.1
39.8
111) St Vincent Grenadines
48.21
46.6
58.1
58.3
50
67
26.4
53.3
112) Sub-Saharan Africa (developing only)
49.06
54.12
37.58
50.31
113) Sudan
29.79
45.8
59.6
56.8
49.7
61.2
34.8
45.5
114) Swaziland
52.87
57.2
53.6
35.4
65.4
59.2
65.6
115) Syria
60.51
62.5
44.4
116) Tajikistan
54.39
56.2
49.8
57.4
57.4
59.2
73.2
71.6
117) Tanzania
74.07
79.9
57.8
76.8
56.3
61.4
65.4
76.9
118) Thailand
64.84
64.8
59.66
67.32
119) Togo
59.97
58.5
61.9
50.5
42.3
54.4
49.7
75.7
120) Tonga
22.35
53.4
80.4
80.5
80.4
77.1
121) Tunisia
53.17
47.8
54.2
50.7
50.4
49.1
49.5
54.2
122) Turkey
33.16
43.3
45.2
34
39.3
37.2
38.7
31.6
123) Turkmenistan
66
124) Uganda
78
81.6
64.7
69.7
71.2
60.3
59.7
63.6
125) Ukraine
28.31
21.1
23
47.5
30.6
51.3
21.8
41.2
126) Upper middle income
39.5
42.1
43.1
47.4
39.8
46
37.4
32.8
127) Uzbekistan
63.63
59.5
62.6
54.5
51.1
65.9
54.7
57.6
128) Vanuatu
79.2
80.9
80.1
129) Venezuela
19.2
-10.3
41.6
32.2
50.4
40.2
130) Vietnam
65.49
56
58
60.2
60
59.8
67.6
69.6
131) Yemen
59.78
46.3
55.4
47.1
49.7
43.7
132) Zambia
71.99
51.1
52.8
43.7
42.5
27.2
23.8
39
133) Zimbabwe
23.5
34.7
54.8
CSV