Series consists of correspondence created and received by Frank Vita during his tenure as an Economist in the Development Finance Companies Department (DFC). Vita was placed in the Financial Development Unit (FDU) and the majority of the records in the series relate to its primary activity, namely the review of the World Bank's activities in the area of financial development. FDU records primarily relate to the research and authorship of the FDU report "The World Bank's Approach to Interest Rate and CreditAllocation Issues". Records include what appears to be the final version of the report presented to Bank President Robert McNamara as well as drafts of the report. Comments and research materials related to the report are also included. Research materials include reports on meetings with the Bank's regional staff and reports on regional and country finance development issues.

Records also include correspondence with development finance companies discussing the appraisal of projects submitted for financing by development finance companies. The majority of this correspondence is with the Industrial Development Bank (IDB).