Solidarios development fund

Evaluation covers the period 2/80-4/81 and consists of a PES facesheet attached to a special evaluation (XD-AAJ-328-A). The evaluators found that the Mexican Development Foundation (FMDR), has the capacity to effectively utilize greater amounts of Soildarios revolving loan funds for developing its network of economic activities. Regarding the Uruguayan Institute of Socio-Economic Promotion (IPRU), the evaluators recommend that Solidarios develop a financial mechanism to preserve the monetary value of loan funds under existing economic conditions, and assess the IPRU"s credit operations after the first disbursement of loan funds. Moreover, it is recommended that Solidarios develop a procedure for maintaining the value of its loans to all NDF"s in countries where foreign exchange devaluation and high rates of inflation are eroding the value of project funds.