International Bank for Reconstruction and Development

Anonymous

International Organization, 1952, vol. 6, issue 2, 296-298

Abstract: On January 11, the International Bank for Reconstruction and Development made a loan of $29,700,000 for electric power development in Mexico. The loan was to be used to finance imports of equipment and materials needed to carry out seven major projects in the 1952–1955 construction program of Mexico's Federal Electricity Commission. The loan, made for a term of 25 years and bearing interest at the rate of 4J½ percent per annum, was the third made to Mexico for power development, in support of that country's current industrial and agricultural expansion. It was estimated that, together with the loans of 1949 and 1950, the loan would contribute to the near doubling of Mexico's electric generating capacity in a span of seven years. The joint borrowers were the Comision Federal de Electricidad, a government agency charged with the development of electric power, and Nacional Financiera, the official financing institution of the Mexican government. The loan was guaranteed by the Mexican government.

Date: 1952
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