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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

For the nine-month period ending March 31, 1953, the International Bank for Reconstruction and Development reported a net income of $12,947,735, compared with $12,507,639 for the similar period in 1952. Exclusive of loan; commissions gross income was $31,682,273, compared with $25,744,168 in 1952. Placed in the supplemental reserve against losses on loans and guarantees, the net income increased this reserve to $70,975,835. Loan commissions, which amounted to $6,985,416 were credited to the Bank's special reserve, increasing it to $34,670,000, while total reserves on March 31 were $105,645,905.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 7 , Issue 3 , August 1953 , pp. 410 - 411
Copyright
Copyright © The IO Foundation 1953

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References

1 International Bank Press Release 324, May 5, 1953.

2 Ibid., 323, April 30, 1953.

3 Document E/2441, May 25, 1953. For summary of an earlier report by the Bank on this proposal submitted to the United Nations Secretary-General in April 1952, see International Organization, VI, p. 435.

4 For summary of action at the fourteenth session of ECOSOC resulting in adoption of the resolution requesting the Bank to continue its examination of the proposal to create an international finance corporation, see ibid., p. 592. For consideration of the question of creating an international finance corporation by the seventh session of the General Assembly, see ibid., VII, p. 75.

5 Document E/2441, May 25, 1953, p. 3.

6 For further information on this mission, see International Organization, VII, p. 136.

7 International Bank Press Release 326, June 8, 1953.