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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

On May 26, 1964, the International Bank for Reconstruction and Development and its affiliate, the International Development Association (IDA), joined with the United States Agency for International Development (AID) and the Inter-American Development Bank (IDB) to provide the equivalent of $39 million to the government of Ecuador to assist a $62.2 million, five-year, national highway program. The International Bank loan amounted to $9 million, the IDA credit to $8 million, the AID loan to $13.3 million, and the IDB loan to $6 million. In September 1963 AID had made a previous loan of $2.7 million for the program; the remaining costs of $23.2 million were to be covered by the government of Ecuador.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 18 , Issue 4 , Fall 1964 , pp. 846 - 854
Copyright
Copyright © The IO Foundation 1964

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References

1 International Bank for Reconstruction and Development (IBRD) Press Release 64/19, IDA Press Release 64/6, May 26, 1964. For a summary of previous activities of the International Bank, see International Organization, Summer 1964 (Vol. 18, No. 3), pp. 606–610Google Scholar.

2 The Bank loans to Ecuador, Tunisia, and Iran which are summarized in this section were at an interest of 5½ percent per annum, including the one percent commission allocated to the Bank's Special Reserve. Since the one percent commission on loans was discontinued on July I, 1964, succeeding loans discussed in this section were at an interest of 5½ percent per annum.

3 IBRD Press Release 64/21, June 5, 1964.

4 IBRD Press Release 64/22, June 10, 1964.

5 IBRD Press Release 64/23, July 1, 1964.

6 IBRD Press Release 64/24, July 7, 1964.

7 IBRD Press Release 64/25, July 10, 1964.

8 IBRD Press Release 64/26, July 10, 1964.

9 IBRD Press Release 64/28, July 22, 1964.

10 IBRD Press Release 64/29, July 31, 1964.

11 IBRD Press Release 64/31, August 18, 1964.

12 IBRD Press Release of June 2, 1964.

13 IBRD Press Release of June 16, 1964.

14 IBRD Press Release 64/20, IDA Press Release 64/7, May 26, 1964.

15 IBRD Press Release 64/27, IDA Press Release 64/15, July 16, 1964.

16 IBRD Press Release 64/30, August XI, 1964.

17 IDA Press Release 64/8, June 9, 1964. For a summary of previous IDA activities, see International Organization, Summer 1964 (Vol. 18, No. 3), pp. 610–613Google Scholar.

18 In all IDA credit operations summarized in this section, the credits were for a term of 50 years and repayment of the principal would 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 ¾ of one percent per annum on the amounts withdrawn and outstanding would be made to meet IDA's administrative costs.

19 IDA Press Release 64/9, June 11, 1964.

20 IDA Press Release 64/10, June 24, 1964.

21 IDA Press Release 64/11, June 24, 1964.

22 IDA Press Release 64/12, July 6, 1964.

23 IDA Press Release 64/14, July 14, 1964.

24 IDA Press Release 64/16, July 21, 1964.

25 IDA Press Release 64/17, IDB Press Release 35/64, July 24, 1964.

26 IDA Press Release 64/18, August 3, 1964.

27 IDA Press Release 64/19, August 17, 1964.

28 IDA Press Release 64/13, July 8, 1964.

29 IFC press Release 64/10, June 10, 1964. For a summary of previous IFC operations, see International Organization, Summer 1964 (Vol. 18, No. 3), pp. 614–616Google Scholar

30 IFC Press Release 64/11, June 30, 1964.

31 IFC Press Release 64/12, July 9, 1964.

32 IFC Press Release 64/13, July 14, 1964.

33 IFC Press Release 64/14, August 22, 1964.