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 extending loans to foreign nations, mostly for capital projects, repayable in the local currency of the borrower. In 1961, it merged into the United States Agency for International Development.[1]
At its creation, 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]
Managers
- Dempster McIntosh (1957–1959)
- Vance Brand (1959–1961)
See also
- Foreign Assistance Act
- Development aid
- Overseas Private Investment Corporation
- Foreign policy of the United States
References
- ↑ 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 978-0-415-93924-9.
- ↑ 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 978-0-520-05868-2.
Further resources
- Google Books search for: "Development Loan Fund"
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