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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 International Bank for Reconstruction and Development announced on February 16, 1960, a loan of $42 million to Iran for an electric power generation, irrigation, and flood control project on the Dez River. The Bank's loan, which was for a term of 25 years and bore interest of 6frac14 percent with amortization beginning August 1, 1964, was to cover the foreign exchange costs of building the project with a total cost of $83 million.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 14 , Issue 3 , Summer 1960 , pp. 463 - 465
Copyright
Copyright © The IO Foundation 1960

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References

1 International Bank for Reconstruction and Development, Press Release No. 625, February 19, 1960. For a summary of previous activities of the International Bank, see International Organization, Spring 1960 (Vol. 14, No. 2), p. 330–335.CrossRefGoogle Scholar All loans are made without the Bank's guarantee and include a 1 percent commission which is allocated to the Bank's Special Reserve.

2 International Bank for Reconstruction and Development, Press Release No. 627, March 17, 1960.

3 Ibid., Press Release No. 628, March 17, 1960.

4 Ibid., Press Release No. 629, March 30, 1960.

5 Ibid., Press Release No. 630, April 1, 1960.

6 Ibid., Press Release No. 634, May 27, 1960.

7 Ibid., Press Release No. 631, May 6, 1960.

8 Ibid., Press Release No. 633, May 10, 1960.

9 Ibid., Press Release No. 632, May 6, 1960.

10 International Finance Corporation, Summary Proceedings, 1959 Annual Meeting of the Board of Governors, Washington, D. C, 1959.Google Scholar For a summary of the 1958 Annual Meeting, see International Organization, Spring 1959 (Vol. 13, No. 2 ), p. 315–316Google Scholar, and for a summary of the Third Annual Report, 1958–1959, presented to the third annual meeting, see ibid., Winter 1960 (Vol. 14, No. 1), p. 208.

11 On October 13, 1959, Argentina completed its membership in IFC, its capital subscription being set at $1,662,000.

12 International Finance Corporation, Press Release, March 24, 1960.