International Bank for Reconstruction and Development

Anonymous

International Organization, 1963, vol. 17, issue 1, 268-273

Abstract: The International Bank for Reconstruction and Development announced on October 17, 1962, a loan of $22 million to Israel for highway construction and improvement. During the next four and onehalf years, about 512 inter-urban highways were to be built or reconstructed to higher standards to provide better communication with ports, to reduce traffic congestion and transport costs, and to improve traffic safety. About 155 miles of feeder and access roads, linking agricultural and other settlements to the main highway network, were also to be improved. The total cost of the road construction and improvements was estimated at $46 million; the Bank loan of $22 million was to cover the foreign exchange requirements of this work and also of related imported equipment and services. The loan was for a term of seventeen years, and amortization was to begin in January 1967.

Date: 1963
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