Complex sentence: As the result of the Global Financial Crisis (GFC) the RERF was exposure to failed Icelandic banks, as well drawdowns were made by the government of Kiribati to finance budgetary shortfalls.
Split into simpler sentences: As the result of the Global Financial Crisis (GFC) the RERF was exposed to failed Icelandic banks. Drawdowns were made by the government of Kiribati to finance budgetary shortfalls.