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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 thirteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1957, to June 30, 1958, was presented to the Board of Governors on October 6, 1958. Noting that the operations of the Bank in the past year were larger and more wide-ranging than in any previous year, the report stated that 34 loans totaling the equivalent of $711 million had been made during the twelve months ended June 30, 1958. This compared with 20 loans totaling $388 million in the previous year. More than half the year's lending was in Asia, amounting to $379 million, while the balance was made up of $121 million for Latin America, $112 million for Africa, and $99 million for Europe. Of the total of $322 million lent for improvements in transportation, two-thirds was for the improvement and expansion of rail services in seven member countries. The $242 million lent in regard to electric power was for the expansion of generation, transmission, and distribution systems in nine countries. Loans made for industry totaled $107 million and were largely concerned with expansion programs in steel and coal.

Type
International Organizations: Summary of Activities II. Specialized Agencies
Information
International Organization , Volume 13 , Issue 2 , Spring 1959 , pp. 309 - 316
Copyright
Copyright © The IO Foundation and Cambridge University Press 1959

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References

1 International Bank for Reconstruction and Development, Thirteenth Annual Report, 1957–1958, Washington, D. C., 1958Google Scholar. For a summary of the Twelfth Annual Report, 1956–1957, see International organization, Winter 1958 (Vol. 12, No. I), p. 146–147.Google Scholar

2 International Bank for Reconstruction and Development, Supplement to the Thirteenth Annual Report (this statement was prepared for the use of the UN Economic and Social Council in connection with the Council's consideration of the thirteenth annual report of the Bank).Google Scholar

3 For information on the annual meeting, see below, p. 311.Google Scholar

4 International Bank for Reconstruction and Development, Summary Proceedings, 1958 Annual Meeting of the Board of Governors, October 6–10, 1958, New Delhi, India, Washington, D. C., December 15, 1958. For a summary of the 1957 meetingGoogle Scholar, see International Organization, Spring 1958(Vol. 12, No. 2), p. 216–217.CrossRefGoogle Scholar

5 For action in accordance with this resolution, see this issue, p. 310.Google Scholar

6 International Bank for Reconstruction and Development, Press Release No. 557, September 22, 1958.Google Scholar

7 Ibid., No. 558, October 3, 1958.

8 The rates of interest on this and following loans include the 1 percent commission charged on Bank loans and added to its special reserve.

9 International Bank for Reconstruction and Development, Press Release No. 559, October 9, 1958.Google Scholar

10 Ibid., No. 564, December 2, 1958.

11 Ibid., No. 565, December 3, 1958.

12 Ibid., No. 567, December 15. 1958.

13 Ibid., No. 572, January 30, 1959.

14 Ibid., No. 569, January 7, 1959.

15 Ibid., No. 578, February 20, 1959.

16 Ibid., No. 574, February 5, 1959.

17 Ibid., No. 576, February II, 1959.

18 Ibid., No. 577, February 18, 1959.

19 UN Press Release IB/843, March 16, 1959.Google Scholar

20 Ibid., No. 563, November 18, 1958.

21 Ibid., No. 570, January 8, 1959.

22 Ibid., No. 566, December 15, 1958.

23 Ibid., No. 560, October 27, 1958.

24 Ibid., No. 571, January 20, 1959.

25 International Finance Corporation, Second Annual Report, 1957–1958, Washington, D. C., 1958Google Scholar. For a summary of the First Annual Report, see International Organization, Winter 1958 (Vol. 12, No. 1), p. 148.Google Scholar

26 Document E/3199/Add.I (prepared for the UN Economic and Social Council's 27th session). See also, UN Press Release IB/846, March 24, 1959.Google Scholar

27 There had been two commitments with one company, making the total number of investments 11.

28 See the following section on investment operations.

29 International Finance Corporation, Summary Proceedings, 1958 Annual Meeting of the Board of Governors, New Delhi, India, October 8, 1958, Washington, D. C., 1958.Google ScholarFor a summary of the 1957 Annual Meeting, see International Organization, Spring 1958(Vol. 12, No. 2), p. 218.Google Scholar

30 International Finance Corporation, Press Release No. 19, October 2, 1958. This and the following commitments were subject to the completion of the necessary legal formalities.Google Scholar

31 International Finance Corporation, Press Release No. 20, December 15, 1958.Google Scholar

32 Ibid., No. 21, January 30, 1959.

33 Ibid., No. 22, February 9, 1959.