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International Bank for Reconstruction and Development

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  • Anonymous

Abstract

Lending OperationsDuring the period from March 24 to June 22, 1955, the International Bank for Reconstruction and Development made nine loans in seven countries. A loan of $12 million in European currencies to the Bank of Finland was announced on March 24, bringing the total of Bank loans in Finland to over $50 million. The new loan was to be used to help finance projects for expansion and modernization of the woodproducts industry and for further development of electric power. Two commercial banks in the United States were participating in the loan, without the Bank's guarantee, to an extent of $2, 288, 000. It was expected that the Bank's loan would finance about one-fifth of the proposed projects, the remainder being financed from Finnish sources. Approximately $8 million of the loan had been allocated to five woodproducts companies and about $4 million to two electric power projects. It was further expected that about three-fourths of the foreign exchange provided by the Bank's loan would be spent in Denmark, France, Germany, Sweden, Switzerland and the United Kingdom and about one-fourth in the United States. The loan was for a term of 15 years at an interest of 4⅝ percent a year, including the Bank's one percent commission; amortization was to begin on April 15, 1958.

Suggested Citation

  • Anonymous, 1955. "International Bank for Reconstruction and Development," International Organization, Cambridge University Press, vol. 9(3), pages 421-425, August.
    • Handle: RePEc:cup:intorg:v:9:y:1955:i:3:p:421-425_11
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    Cited by:

    1. Mihai Niţoi & Dorina Clichici & Simona Moagăr-Poladian, 2021. "Foreign Banks in Central and Eastern Europe: The Good, the Bad and the Ugly," Prague Economic Papers, Prague University of Economics and Business, vol. 2021(5), pages 596-612.
    2. W. G. Huff, 2003. "Currency Boards and Chinese Banking Development in pre-World War II Southeast Asia: Malaya and the Philippines," Working Papers 2003_2, Business School - Economics, University of Glasgow.
    3. Morgan, Mary S., 2008. "‘On a mission' with mutable mobiles," Economic History Working Papers 22500, London School of Economics and Political Science, Department of Economic History.
    4. Brown, Lester R., 1963. "Agricultural Diversification and Economic Development in Thailand: A Case Study," Foreign Agricultural Economic Report (FAER) 143855, United States Department of Agriculture, Economic Research Service.
    5. Mihai Niţoi & Dorina Clichici & Simona Moagăr-Poladian, . "Foreign Banks in Central and Eastern Europe: The Good, the Bad and the Ugly," Prague Economic Papers, Prague University of Economics and Business, vol. 0.
    6. Easterly, William, 1997. "The ghost of financing gap : how the Harrod-Domar growth model still haunts development economics," Policy Research Working Paper Series 1807, The World Bank.
    7. Peter Bauer, 1998. "B. R. Shenoy: Stature and Impact," Cato Journal, Cato Journal, Cato Institute, vol. 18(1), pages 1-10, Spring/Su.
    8. Carl K. Eicher, 1967. "The Dynamics of Long-Term Agricultural Development in Nigeria," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(5), pages 1158-1170.
    9. Adegboye, Rufus Oladokun, 1964. "Improving land use in Nigeria through removing defects in land inheritance," ISU General Staff Papers 196401010800003725, Iowa State University, Department of Economics.
    10. Mehmet Osman ÇATI, 2016. "Economic Development and Foreign Policy, The Case of Syria 1949-1954," Sosyoekonomi Journal, Sosyoekonomi Society, issue 24(27).
    11. Ross, E.B., 2003. "Modernisation, clearance and the continuum of violence in Colombia," ISS Working Papers - General Series 19142, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.

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