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Bankspeak of the Year 2002 award

28 January 2003 | Humour

“Terminology would be simplified accordingly by discontinuing the use of special names and acronyms for sectoral adjustment loans (SECALs), structural adjustment loans (SALs), rehabilitation loans (RILs), and programmatic structural adjustment loans/credits (PSALs/PSACs). At the same time, the new OP/BP 8.60 would explicitly incorporate the distinct operational policy/pricing features of poverty reduction support credits, special structural adjustment loans, and the deferred drawdown option as applications of development policy support lending under the unified overall operational policy umbrella.”

From Adjustment Lending to Development Policy Support Lending: Key Issues in the Update of World Bank Policy, Operations Policy And Country Services, World Bank, June 6, 2002, p. 7