International Bank for Reconstruction and Development

Anonymous

International Organization, 1962, vol. 16, issue 4, 872-876

Abstract: The International Bank for Reconstruction and Development made a loan of $30 million for the continuation of a national power expansion program in Yugoslavia. The loan was to help to finance construction of a 240,000-kilowatt hydroelectric plant in central Yugoslavia, and the extension of the country-wide electric power network by the installation of 362 miles of transmission lines and associated substations. The loan was made to the Yugoslav Investment Bank, an institution of the federal government which channeled investment funds for development. The Investment Bank was to re-lend the proceeds of the Bank loan to the enterprises responsible for constructing and operating the power plant and the transmission system. The loan was for a term of 25 years at an interest rate of 5¾ percent; amortization was to begin on December 1, 1966. The loan was guaranteed by the government of Yugoslavia.

Date: 1962
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