International Bank for Reconstruction and Development

Extract

On March 1, 1954, the International Bank for Reconstruction and Development released a report supplementing its eighth annual report and covering its activities from July 1, 1953, until February 1, 1954. During this period, eighteen loans totaling $190,392,000 were made in ten countries, bringing the total of Bank lending to $1,781,158,464 for 96 loans in 31 countries. On February 1, 1954, total disbursements on loans amounted to $1,261,310,913, $158,049,798 of which had been made in the period covered in the report. Net earnings for the seven months ending February 1, 1954, totaled $11,072,000 all of which had been credited to the Supplemental Reserve against Losses on Loans and Guarantees, raising that supplemental reserve to $87,586,000. Approximately $6,550,000 had been added to the Special Reserve, increasing it to $43,787,000. Four issues of Bank bonds had increased the outstanding direct obligations of the Bank by $198,269,342 during the period; total Bank issues outstanding as of February 1, 1954, amounted to $753,479,877, of which $675 million was denominated in United States dollars and the remainder in sterling, Swiss francs or Canadian dollars. $15,448,464 principal amount of borrowers' obligations had been sold to private investors during the period; $10,163,766 of this total was sold without the Bank's guarantee. As of February 1, 1954, total sales by the Bank of the obligations of its borrowers totaled $85,463,118, of which $31,638,140 had been retired