International Bank for Reconstruction and Development

Anonymous

International Organization, 1959, vol. 13, issue 2, 309-316

Abstract: The thirteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1957, to June 30, 1958, was presented to the Board of Governors on October 6, 1958. Noting that the operations of the Bank in the past year were larger and more wide-ranging than in any previous year, the report stated that 34 loans totaling the equivalent of $711 million had been made during the twelve months ended June 30, 1958. This compared with 20 loans totaling $388 million in the previous year. More than half the year's lending was in Asia, amounting to $379 million, while the balance was made up of $121 million for Latin America, $112 million for Africa, and $99 million for Europe. Of the total of $322 million lent for improvements in transportation, two-thirds was for the improvement and expansion of rail services in seven member countries. The $242 million lent in regard to electric power was for the expansion of generation, transmission, and distribution systems in nine countries. Loans made for industry totaled $107 million and were largely concerned with expansion programs in steel and coal.

Date: 1959
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