INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Page 41
Public
4.4 Loans and borrowings
2022
2021
CHF 000s
CHF 000s
Current liabilities
Loans for building
1,415
1,415
Lease
liabilities
2,587
2,258
4,002
3,673
Non-current liabilities
Loans for building
58,915
60,331
Lease liabilities
1,087
1,904
60,002
62,235
FIPOI building loans
The IFRC has two loans from the
Fondation des Immeubles pour les Organisations Internationales
(FIPOI). Both loans are
for the construction of office buildings at the Geneva headquarters. Both loans are at 0% interest, are unsecured and repayable
in equal annual instalments over 50 years.
It is common practice that international organisations have access to interest free loans for building improvements from the
Government of Switzerland through the FIPOI. As such, a market for such loans exists and the market rate of interest for
them is 0%. The amortised cost of the financial liability is equal to the actual costs of the financial
liability as recorded in
the IFRC’s accounts, and there is no in-kind benefit from a below-market interest.
Reconciliation of movement of liabilities to cashflows arising from financing activities:
2022
2021
Dostları ilə paylaş: 
