interest in local currency through a bilateral &velopment fund. Such a fund, which will contain only local currency, will automatically be limited to investment objectives that make maximum use of local human and material resources. It is therefore to be hoped that this will have a beneficial influence on the accumulation of local capital. Since the investment policies of the past have tn a qreat extent led to an accumulation of debt, it is our view that the world community must establish an international oode for debt financing. Special attention should be given to the Profitability of investments undertaken am to the capacity of borrowers to mobilize part of the additional revenues obtained to provide repayment possibilities and a return of invested capital. Belgium has participated in structural adjustment policies established by the World Bank and financially supported by the Special Proqramrne for the Most Indebted Countries of Sub-Saharan Africa. The Belgian oontribution is specially allocated to programmes for the African countries with which Belgium has the closest bilateral relations. Experience has shown that, given the social aspects of adjustment policies, transformations required to meet the objectives of the Bretton Woods institutions require lonqstanding efforts. For that purpose, is it not necessary to take a second look at the short-term approach of structural adjustment programmes? It is clear that the human factor is of primary importance in the development Process. Every individual should have access to adequate health care, i (, rl ( I" I i I I i; I I ! \,1 l\ '.JI 1:I i , I' i -~. I ' 1.' I I .1' ' I .1 :i RH/27 A/S-18/PV. 2 128 (Mr. Geens, Belgium) education and an acceptable standard of living. In this respect it is important 
**Analysis**
The text discusses the importance of local currency, debt financing, and structural adjustment programs in the context of economic development. It highlights the need to prioritize the human factor, including access to healthcare, education, and an acceptable standard of living. The text also mentions bilateral relations and international organizations, such as the World Bank. These hints suggest that the text is primarily focused on economic development and international cooperation.

**Category**
Economic development, International trade