The Development Loan Fund (DLF) was the lending arm of the United States International Cooperation Administration.
Its main purpose was extending loans to foreign nations, mostly for capital projects, repayable in the local currency of the borrower.
This interfered with the ability of the DLF to impartially and independently evaluate and accept loan proposals.
Of this sum, $175 was earmarked, meaning that it was not restricted to use in any identifiable planned project and instead being used as a line of credit to India.
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