International Bank for Reconstruction and Development

Anonymous

International Organization, 1958, vol. 12, issue 3, 381-383

Abstract: The International Bank for Reconstruction and Development on March 1, 1958, announced a loan equivalent to $75 million to the Cassa per il Mezzogiorno, a governmental agency for industry, agriculture, and electric power development in southern Italy. The loan, in which more than twenty financial institutions in the Federal Republic of Germany, the United States, and Canada participated, was for a term of twenty years and bore interest of 5½ percent, including the 1 percent commission allocated to the Bank's Special Reserve. Amortization on the loan, which was guaranteed by the Republic of Italy, was to begin on February 15, 1961.

Date: 1958
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