International Bank for Reconstruction and Development

Anonymous

International Organization, 1959, vol. 13, issue 3, 466-467

Abstract: The International Bank for Reconstruction and Development announced on April 8, 1959, a loan equivalent to $25 million to India for the Koyna hydro-electric power project inthe State of Bombay. This loan was expected to cover most of the foreign exchange requirements of the total cost of the first stage of the project, estimated at the equivalentof $118 million. It was for a term of 25 years and bore interest of 5¾ percent, including the I percent commission allocated to the Bank's Special Reserve. Amortization was to begin in May 1965.

Date: 1959
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