IBRD Trust Funds - World Bank

Purpose

The Global Concessional Financing Facility (GCFF), established in July 2016, is an innovative financing mechanism designed to mobilize financial resources to support middle-income countries affected by refugee crises. In recognition of the global public good being provided by these countries in hosting significant populations of refugees, donor contributions are used to significantly reduce the interest rates on loans provided to host countries by partner multilateral development banks. This lower cost financing targets projects that improve the well-being of refugees and local host communities in areas such as education, health, and job creation to create sustainable development outcomes. As one of ten supporting donors, Canada is a member of the Steering Committee for this financing mechanism.