Development Loan Fund

The Development Loan Fund (DLF) was the lending arm of the United States International Cooperation Administration. It was established in 1957 as part of a revision of the Mutual Security Act. Its main purpose was to extend loans to foreign nations, repayable in the local currency of the borrower, mostly for capital projects. In 1961 it was merged into the United States Agency for International Development^[1]

When it was created in 1957, its legislative mandate ordered that it not "compete" with "private investment capital", the Export-Import Bank, or the International Bank for Reconstruction and Development.^[2]

See also

• Foreign Assistance Act
• Development aid
• Overseas Private Investment Corporation
• Foreign policy of the United States

References

1. ^ Osmańczyk, Edmund Jan; Anthony Mango (2003). Anthony Mango. ed. Encyclopedia of the United Nations and International Agreements: T to Z (3 ed.). Taylor & Francis. pp. 2546–2547. ISBN 9780415939249. http://books.google.com/books?id=6AB2CadyN7QC&pg=PA2547&dq=%22development+loan+fund%22+international&lr=&as_brr=3&ei=X-N5S82fI4_OlQSw-8HgBA&client=firefox-a&cd=1#v=onepage&q=%22development%20loan%20fund%22%20international&f=false. 
2. ^ Wood, Robert Everett (1986). From Marshall Plan to debt crisis: foreign aid and development choices in the world economy. Studies in international political economy. 15. University of California Press. p. 120. ISBN 9780520058682. http://books.google.com/books?id=AxahJZ0ZrwMC&pg=PR120. 

Further resources

• Google Books search for: "Development Loan Fund"