Abstract
AbstractThe use of ‘tied’ loans with concessionary interest rates as an incentive for developing countries to procure capital goods from industrialized countries has been an on‐going subject of dispute amongst the latter in regard to their trade distorting impact. A major initiative by the OECD in 1992 was designed to minimize this problem, by prohibiting the use of such loans for projects that were deemed to be commercially viable. This paper assesses the impact of the change in ‘rules’ on the disbursement of concessionary loans and discusses issues that remain unresolved. Copyright © 2001 John Wiley & Sons, Ltd.
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