Match the items of List - I with those of List - II; and choose the correct code of combination:

List – I	List - II
(A) Poverty Reduction and Growth Facility (PRGF)	(I) 1997
(B) Supplemental Reserve Facility (SRF)	(II) 1974
(C) Extended Fund Facility (EFF)	(III) 1999

Code:

Correct option is A

The correct answer is (a) (A)-(III), (B)-(I), (C)-(II).
This question tests your knowledge of the historical timeline of various International Monetary Fund (IMF) lending windows. The Extended Fund Facility (EFF) was the earliest of these, established in 1974 to provide long-term assistance to countries with structural balance-of-payments problems. The Supplemental Reserve Facility (SRF) was created in 1997 specifically to handle the sudden, massive capital outflows seen during crises like the East Asian financial crisis. Finally, the Poverty Reduction and Growth Facility (PRGF) was established in 1999, replacing the Enhanced Structural Adjustment Facility (ESAF) to focus more on poverty reduction in low-income countries.
Information Booster
· EFF (1974): Designed for structural issues that require a longer period of correction (up to 3–4 years). It was a response to the changing global economy in the early 70s.
· SRF (1997): This was a "crisis" facility. It provided very large-scale, short-term loans at higher interest rates to discourage prolonged use and to prevent "contagion" in the global markets.
· PRGF (1999): It signaled a shift in IMF philosophy, moving from just "structural adjustment" to ensuring that economic growth programs actually reduced poverty. In 2009, it was further evolved into the Extended Credit Facility (ECF).