Statistical Terms Glossary

In the context of the Paris Club, countries eligible to receive concessional terms. The Paris Club decides eligibility on a case-by-case basis, but only countries eligible to receive highly concessional IDA credits from the World Bank Group are included. The World Bank classifies as low-income those countries with GNP per capita income of $755 or less in 2000.

Fish that have a low commercial value by virtue of their low quality, small size or low consumer preference. They are either used for human consumption (often processed or preserved) or fed to livestock/fish, either directly, or through reduction to fishmeal/oil.

Lower secondary education (ISCED 2) generally continues the basic programmes of the primary level, although teaching is typically more subject-focused, often employing more specialised teachers who conduct classes in their field of specialisation.

Is a price index for an elementary aggregate. As such, it is calculated from individual price observations without using weights. More generally, the term can be used to describe any price index that is calculated without weights.

In the context of the Paris Club, refers to the rescheduling terms granted, since September 1990, to lower-middle-income countries. These terms are non-concessional and originally provided for flat repayment schedules, but in recent years graduated payment schedules have often been agreed upon for commercial credits, namely, with a maturity of up to18 years, including a grace period of up to 8 years.

Any broad expanse of land with a general low level. The term is thus applied to the landward portion of the upward slope from oceanic depths to continental highlands, to a region of depression in the interior of a mountainous region, to a plain of denudation, or to any region in contrast to a highland.

The land equipped for irrigation in lowland areas includes: (i) Cultivated wetland and inland valley bottoms (IVB) that have been equipped with water control structures for irrigation and drainage (intake, canals, etc.); (ii) Areas along rivers where cultivation occurs making use of structures built to retain receding flood water; (iii) Developed mangroves and equipped delta areas.

The land equipped for irrigation in lowland areas includes: i. cultivated wetland and inland valley bottoms (IVB) that have been equipped with water control structures for irrigation and drainage (intake, canals, etc.); ii. areas along rivers where cultivation occurs making use of structures built to retain receding flood water; iii. developed mangroves and equipped delta areas.

Low—level radioactive wastes are a subcategory of radioactive wastes comprising those that, because of their low radionuclide content, do not require shielding during normal handling and transportation

Heavy fuel oil with sulphur content lower than 1 per cent.

Fish with little or no commercial value and not sorted by species before landing. Usually part of the trawlers' by-catch. It can be used for aquaculture, fishmeal production and in many developing countries, for human consumption.

See Liquefied petroleum gases (LPG)

Lubricants are hydrocarbons produced from distillate or residue; they are mainly used to reduce friction between bearing surfaces. This category includes all finished grades of lubricating oil, from spindle oil to cylinder oil, and those used in greases, including motor oils and all grades of lubricating oil base stocks.

One-time capital payments to members of a scheme designed to provide only capital sums upon the retirement, invalidity or death of a protected person (that is, provident funds).

A currency-specific borrowing made in a lump sum by IFC from IBRD for its short-term future needs.

A formal decision on further "CAP reform - a long-term perspective for sustainable agriculture" was taken by the EU Council of farm ministers meeting in Luxembourg on 26 June 2003. The reform includes far-reaching amendments of current policies, including further reductions in support prices, partly offset by direct payments and a further decoupling of most direct payments, such as the new single farm payment from current production. The different elements of the reform will enter into force in 2004 and 2005. A single farm payment will enter into force in 2005. If a member state needs a transitional period due to its specific agricultural conditions it may apply the single farm payment from 2007 at the latest.

See Concessional restructuring