Special Development Fund Annual Report 2012 and Financial Projections 2013-2015
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The Special Development Fund (SDF/the Fund) was established in 1970 and is the Bank’s largest pool of concessionary funds. This facility offers loans with longer maturities and grace periods and lower interest rates than those that are applied in the Bank’s ordinary operations. However, the various contributors to the Fund applied an assortment of terms and conditions which created complexities and inefficiencies in the Fund’s operation.