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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

The eighteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1962–June 30, 1963, was presented to the Board of Governors on September 30, 1963. The report noted that the number of loans under preparation in the Bank had increased in the period under review, and although it happened that the total of funds lent declined from the previous year, there was no corresponding decline in the number of loans actually made.

Type
International Organizations: Summary of Activities II. Specialized Agencies
Information
International Organization , Volume 18 , Issue 1 , Winter 1964 , pp. 175 - 187
Copyright
Copyright © The IO Foundation 1964

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References

1 International Bank for Reconstruction and Development, Eighteenth Annual Report, 1962–1963,Washington, D.C., 1963.Google Scholar For a summary of the seventeenth annual report, see International Organization, Spring 1963 (Vol. 17, No. 2), pp. 494–495.Google Scholar

2 International Bank for Reconstruction and Development (IBRD) Press Release 63/23, 06 19, 1963.Google Scholar For a summary of previous activities of the Bank, see International Organization, Autumn 1963 (Vol. 17, No. 4), pp. 969–974.Google Scholar

3 All Bank loans summarized in this section, except as otherwise indicated, were at an interest rate of 5½ percent per annum, including the one percent commission allocated to the Bank's Special Reserve.

4 IBRD Press Release 63/24, 06 21, 1963.Google Scholar

5 IBRD Press Release 63/25, 06 21, 1963.Google Scholar

6 IBRD Press Release 63/26, 06 28, 1963.Google Scholar

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8 IBRD Press Release 63/30, 07 16, 1963.Google Scholar

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17 IBRD Press Release 63/44, 10 1, 1963.Google Scholar

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21 IBRD Press Release 63/29, IFC Press Release 63/9, 07 16, 1963.Google Scholar

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42 All three credits were for a term of 50 years. Repayment of principal was to begin after a ten-year period of grace. Thereafter one percent of the principal would be repayable annually for ten years, and 3 percent would be repayable annually for the final 30 years. The credits were free of interest but a service charge of 3/4 of one percent per annum on the amount withdrawn and outstanding would be made to meet IDA's administrative costs.

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