1998

1998

1998-money.jpg

The idea of creating a local currency fund is suggested, although lending in local currency has been done since the 80s. This means partners take less risk with currency fluctuations. EDCS also decides to absorb conversion fees.
The next year, three Local Currency Risk Funds are developed: Indonesia, the Philippines and other countries.
1998 also marks the year of the first EDCS country office, based in Slovakia.

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