IBRD Trust Funds - World Bank

Published purpose

The Global Concessional Financing Facility (GCFF) mobilizes financial resources to support middle-income countries affected by refugee crises. Canada is 1 of the 10 members of the Steering Committee for this financing mechanism. Recognizing the global public good provided by these countries in hosting significant populations of refugees, GCFF uses donor contributions to significantly reduce 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, aiming for sustainable development outcomes.