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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 January 11, the International Bank for Reconstruction and Development made a loan of $29,700,000 for electric power development in Mexico. The loan was to be used to finance imports of equipment and materials needed to carry out seven major projects in the 1952–1955 construction program of Mexico's Federal Electricity Commission. The loan, made for a term of 25 years and bearing interest at the rate of 4J½ percent per annum, was the third made to Mexico for power development, in support of that country's current industrial and agricultural expansion. It was estimated that, together with the loans of 1949 and 1950, the loan would contribute to the near doubling of Mexico's electric generating capacity in a span of seven years. The joint borrowers were the Comision Federal de Electricidad, a government agency charged with the development of electric power, and Nacional Financiera, the official financing institution of the Mexican government. The loan was guaranteed by the Mexican government.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 6 , Issue 2 , May 1952 , pp. 296 - 298
Copyright
Copyright © The IO Foundation 1952

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References

1 International Bank for Reconstruction and Development, Loan Number 56 ME, January 11, 1952; also, ibid., Press Release 274, January 11,. 1952.

2 Ibid., Loan Number 57 PE, January 23, 1952; also, ibid., Press Release 275, January 23, 1952.

3 Ibid., Loan Number 58 SR, February 27, 1952; also, ibid., Press Release 282, February 27, 1952.

4 Ibid., Press Release 276, January 24, 1952.

5 Ibid., Press Release 280, February 11, 1952.

6 Ibid., Press Release 281, February 25, 1952; also, United Nations, Bulletin, XII, p. 233Google Scholar.

7 United Nations Press Release ECOSOC/906, January 7, 1952.

8 New York Times, January 4, 1952.

8 Ibid.

10 Ibid., February 13 and March 9, 1952.

11 Ibid., March 17, 1952.

12 International Bank for Reconstruction and Development, Press Release 277, January 28, 1952. For the Bank's financial statements as of December 31, 1951, see the memorandum and exhibits attached to the above noted Press Release. For a summary of General Assembly action and recommendations concerning the Bank's operations, see this issue, p. 243.

13 Ibid., Press Release 279, February 5, 1952.