​On June 11, the EG approved BMS’ recommendation to change the policy on the application of the GMS rates for International Financial Institutions (IFIs). A GMS rate of 5% is now applicable for all IFIs with an annual volume that exceeds $50M for loan or credit guarantee implementation support. The current GMS rate of 8% will continue to apply for grant financing, and to financing from IFIs below the annual volume threshold.

A Guidance Note on GMS (Indirect Costs) for International Financial Institutions is available as a hyperlink in the table under clause 7 of the Cost Recovery from Other Resources - GMS policy and is available in the POPP library (document ID POPP-11-3262).