text: currencies~ andspecial purpose contributions innon-convertible currencies. The general purpose convertible component istheonlysegment ofthefundthatallows thesecretariat toprogramme without anyconstraints. -1- \ I5.TheFundbeganitsoperations on1January 1978. Theninepriority programme components established forFundactivities are: Special measures forleastdeveloped, land-locked andislanddevelopinq countries Developm~nt andtransfer ofindustrial techno10Qy andindustrial information Economic co-operation amongdeveloping countries Training programmes andstrengthening industrial training institutions in developing countries Industrial institutional infrastructure Industries processing localnatural resources. including export-oriented industries Industries satisfying basicneedsandsupport toruralindustries Promotional activities Otheractivities 6.Thesepriority areas,agreed uponbytheBoardattheinception oftheFund, remainvalid. Withintheseareas, however, efforts weremadeintheyear1984to sponsor certain programmes ofspecial concern, namely, thoserelated totheleast developed countries andtheIndustrial Development DecadeforAfrica. 7.Thefollowing tableprovides anoverall viewofFundactivities fortheyear 1984.Comparative figures fortheprevious yeararealsoshown: 1984 1983 Income frompledged contributions $14.9million $14.7million Collections inyear $11.1million $13.6million Numberofprojects approved inyear 226 196 Valueofprojects approved inyear $11.5million $15.2million Totalexpenditure intheyear $18.9million $16.8million Income andexpenditure 8.Contributions totheFundfortheyear1984afternecessary adjustments increased byonly$0.2million overthe1983figure. Interest incomedecreased by $0.2million. Totalexpenditures increased by$2.1million. Theincreases occurred mainlyintheareasofstaffandotherpersonnel costs($0.6million), contractual services ($0.3million), operating expenses ($0.8million) and fellowship grants, etc.($0.8million). Therewasadecrease inacquisitions of $0.5million. -2--lmme lon Id, to 1St by f- Assets andliabilities 9.Totalassetsdecreased by$4.4million belowthe1983figure. Thiswasdue mainlytoadecrease incashresources of$5.6million, whichitselfwaspartlydue tolossesonexchange of$1.6million. Thelargeamountofcashheld ($13.7million) isduetothefactthatanextremely highproportion ofpledges is forspecial purpose projects~ fortheseprojects, negotiations aremuchmoredrawn outandimplementation ismuchslower. For1985forexample, outofatotalpledge sofarof$12.9million, $9<6million isforspecial purpose projects. Ofthe totalforspecial purpose projects, $8.8million isintended tobedisbursed in convertible currencies. Ofthetotalcashof$13.7million, $10.3million isheld inconvertible currencies, ofwhich$7.9million isheldintime-deposit andcall (interest-bearing) bankaccounts. 10.Pledges unpaidincreased by$2.0million, reflecting theslowrateofpayment bydonors. 11.Ofthetotalaccounts receivable $0.25million represents accrued interest receivable. Accounts receivable decreased by$0.1million, owinglargely toadrop inaccrued interest receivable andcollection ofoutstanding salary advance~. Deferred charges andotherassetsdecreased by$0.9million, reflecting a substantial dropinunliquidated obligations forfutureyears. Obligations for futureyearsarenotexpensed inthecurrent year. Theyarerathertreated as deferred charges tobeexpensed insubsequent years. 12.Accounts payable ~ncreased by$0.3million. Thisisduemainlytoasteep increase of$0.4million inamounts duetoGovernments. Ofthisamountof $0.4million, $0.2million relatetothedeposit madebytheGovernment ofEgyptin connection withtheEgyptian FundforTechnical Co-operation forAfrica. The balance of$0.2million relates toamounts received fromvarious countries, the exactpurposes ofwhichhavenotyetbeendetermined. Current yearobligations
analysis: The text appears to be discussing the activities and finances of an international organization focused on economic development, with specific programs and projects related to industrial development, training, and cooperation among developing countries. The language used is technical and financial, with a focus on budgetary and accounting issues.