The groups was asked to consider proposals to establish a new Commonwealth financial institution, and to make suggestions concerning the functions, structure and sources of funds for such an institution; also to consider Commonwealth cooperation in export credit financing or refinancing. In approaching this task, we concentrated on the identification of gaps in the range of existing financial services for Commonwealth countries, and the need to ensure that a possible institution would constitute a genuinely additional source of funds and financial services. (paras. 1-5)