A further hypothesis advocated by some commentators since the onset of the financial tensions, was that the ongoing strength in MFI lending to non-financial corporations mainly reflected the drawdown of pre-committed credit facilities, at terms agreed before the tensions erupted and did not represent new credit decisions.
*  *  *  This year, the Bank celebrates its 45th year in the service of the country, which itself prepares to celebrate the 45th anniversary of its accession to independence in March 2013.