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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 International Bank for Reconstruction and Development announced on June 17, 1960, a twenty-year term loan of $15.5 million, bearing 6 percent interest per annum, with amortization beginning in 1963, to the Republic of the Sudan, to finance most of the remaining foreign exchange costs of the Managil Irrigation Scheme, local currency requirements to be provided by the government of the Sudan. The project was an extension of, and patterned on, the Gezira Scheme, one of the most successful irrigation projects in the world, and a 10 percent annual increase in the value of Sudan's agricultural output was expected to result from its development. Three United States banks participated in the loan.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 14 , Issue 4 , Fall 1960 , pp. 659 - 661
Copyright
Copyright © The IO Foundation 1960

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References

1 International Bank for Reconstruction and Development, Press Release No. 636, June 17, 1960. For a summary of previous activities of the, see International Bank International Organization, Summer 1960 (Vol. 14, No. 3), p. 463–464. All loans are made without the Bank's guarantee and include a 1 percent commission which is allocated to the Bank's Special ReserveCrossRefGoogle ScholarPubMed.

2 International Bank for Reconstruction and Development, Press Releases No. 637, June 18, 1960, and No. 640, June 29, 1960.

3 Ibid., Press Releases No. 639, June 22, 1960, No. 641, June 29, 1960, and No. 645, July 29, 1960.

4 Ibid., Press Release No. 644, July 29, 1960.

5 Ibid., Press Release No. 647, August 19, 1960.

6 Ibid., Press Release No. 646, August 10, 1960.

7 Ibid., Press Release No. 635, June 16, 1960.

8 Ibid., Press Releases No. 638, June 20, 1960, and No. 642, July 13, 1960.

9 International Finance Corporation, Press Release No. 38. June 3, 1960.

10 Ibid., Press Release No. 39, June 17, 1960.

11 Ibid., Press Releases No. 40. June 27, 1960, and No. 42, July 8, 1960.

12 Ibid., Press Release No. 41, June 30, 1960.

13 Ibid., Press Release No. 43, July 13, 1960.