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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 sixth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development took place in Washington, D. C, September 10 to 14, 1951, concurrently with the meeting of the Board of the International Monetary Fund. In presenting the Bank's Sixth Annual Report to the Board, the President (Black) reviewed briefly the Bank's activities for the year ended June 30, 1951. He pointed out that in all phases of its operations, the year was the largest in the Bank's history and demonstrated its considerable and growing strength. He expressed the opinion that the Bank, unless there was further deterioration in the international situation, could meet all the capital needs of economic development in its member states, to the extent that these needs should be met on a long-term loan basis. In view of this, he questioned the validity of continuing suggestions to vastly increase funds for this purpose. By that he did not exclude the provision of other instruments for providing capital for economic growth and stated that the Bank was studying a proposal for the establishment of an international finance corporation to complement' the Bank by providing equity investments and loans for private enterprise without governmental guarantee. The Bank's report on this proposal was to be presented to the United Nations Economic and Social Council in the spring of 1952.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 6 , Issue 1 , February 1952 , pp. 111 - 115
Copyright
Copyright © The IO Foundation 1952

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References

1 This summary of the International Bank was written in cooperation with Miss Agnes L. Maher, Assistant to the Director, Public Rela-tions Staff of the International Bank for Recon-struction and Development.

2 For summary of the annual report of the Bank, see International Organization, V, p. 199; for summary of the joint session of the Governors of the Bank and the Fund, see this issue, p. 121.

3 For further discussion, see International Organization, V, p. 594.

4 For summary of the resolution on Uniting for Peace, adopted by the fifth session, see ibid., p. 68.

5 For resolution, see Economic and Social Council, Official Records (twelfth session) Sup-plement No. 1, p. 19Google Scholar.

6 Summary Proceedings, Sixth Annual Meet-ing of the Board of Governors, International Bank for Reconstruction and Development, November 30, 1951.

7 International Bank for Reconstruction and Development, Loan Number 47 BE, and 48 BE, September 13, 1951.

8 International Bank for Reconstruction and Development, Loan Number 49 CH, October 10, 1951.

9 International Bank for Reconstruction and Development, Loan Number 50 IT, October 10, 1951.

10 International Bank for Reconstruction and Development, Loan Number 51 YU, October 11, 1951.

11 For summary of two previous loans, see International Organization, V, p. 594–595.

12 International Bank for Reconstruction and Development, Loan Number 52 NI, October 29, 1951.

13 International Bank for Reconstruction and Development, Loan Number 53 IC, November 1, 1951.

14 International Bank for Reconstruction and Development, Loan Number 54 CO, November 13, 1951.

15 International Bank for Reconstruction and Development, Loan Number 55 FA, December 7, 1951.

16 International Bank for Reconstruction and Development, Press Release 261, September 27, 1951.

17 International Bank for Reconstruction and Development, Press Release 266, October 26, 1951.