International Bank for Reconstruction and Development

1954 ◽  
Vol 8 (2) ◽  
pp. 260-263
Keyword(s):  
United States ◽  
Annual Report ◽  
Bank Lending ◽  
International Bank ◽  
Private Investors ◽  
Total Sales ◽  
Made In

On March 1, 1954, the International Bank for Reconstruction and Development released a report supplementing its eighth annual report and covering its activities from July 1, 1953, until February 1, 1954. During this period, eighteen loans totaling $190,392,000 were made in ten countries, bringing the total of Bank lending to $1,781,158,464 for 96 loans in 31 countries. On February 1, 1954, total disbursements on loans amounted to $1,261,310,913, $158,049,798 of which had been made in the period covered in the report. Net earnings for the seven months ending February 1, 1954, totaled $11,072,000 all of which had been credited to the Supplemental Reserve against Losses on Loans and Guarantees, raising that supplemental reserve to $87,586,000. Approximately $6,550,000 had been added to the Special Reserve, increasing it to $43,787,000. Four issues of Bank bonds had increased the outstanding direct obligations of the Bank by $198,269,342 during the period; total Bank issues outstanding as of February 1, 1954, amounted to $753,479,877, of which $675 million was denominated in United States dollars and the remainder in sterling, Swiss francs or Canadian dollars. $15,448,464 principal amount of borrowers' obligations had been sold to private investors during the period; $10,163,766 of this total was sold without the Bank's guarantee. As of February 1, 1954, total sales by the Bank of the obligations of its borrowers totaled $85,463,118, of which $31,638,140 had been retired

International Bank for Reconstruction and Development: International Finance Corporation

1957 ◽  
Vol 11 (1) ◽  
pp. 166-168
Keyword(s):  
International Finance ◽  
International Finance Corporation ◽  
Inaugural Meeting ◽  
Industrial Enterprises ◽  
International Bank ◽  
Board Of Governors ◽  
Initial Stage ◽  
Operating Policies ◽  
Private Investors ◽  
Made In

Inaugural meeting: The inaugural meeting of the Board of Governors of the International Finance Corporation (IFC) was held in Washington, D.C., on September 24, 1956. Before the Governors was the inaugural report on the Corporation, submitted to it by R. L. Garner, IFC President. During the two months of actual operations covered by the report, considerable progress had been made in establishing a working organization, adopting operating policies for the initial stage of IFC activities, developing working procedures and recruiting staff. As of September 15, the Corporation had 32 members, whose subscriptions totaled $78,382,000. An encouraging degree of interest in IFC's activities had been shown by private industrial enterprises and private investors all over the world, the report continued, and inquiries received had included a number of proposals which had appeared to be of a kind appropriate for IFC investment.

International Bank for Reconstruction and Development

1954 ◽  
Vol 8 (4) ◽  
pp. 560-565
Keyword(s):  
United States ◽  
The United States ◽  
Bank Loans ◽  
Net Income ◽  
United States Dollar ◽  
International Bank ◽  
Board Of Governors ◽  
Basic Services ◽  
The One ◽  
Made In

The ninth annual report of the International Bank for Reconstruction and Development which was transmitted to the Board of Governors on September 24, 1954, covered the activities of the Bank from July 1, 1953, through June 30, 1954. During this period 24 loans had been made in 16 countries, a total of $324 million the highest for a year period in the Bank's history. In all, the Bank had made 104 loans and $1,914 million of the Bank's funds were committed in 34 countries. Total effective loans outstanding and held by the Bank on June 30 amounted to $1,663 million. The greater part of the year's lending, the Bank reported, had been for improvement in basic services; $119 million had been lent for expanding and improving transport facilities and $107 million for expanding electric facilities. Disbursements during the year had been the equivalent of $302 million on new and existing loans, bringing total Bank disbursements to $1,406 million. Disbursements which borrowers spent in Europe had increased during the year from the equivalent of $68 million in 1952–1953 to $115 million. The report noted the growing importance of operations in currencies other than the United States dollar, as indicated by the increase in the proportion of disbursements repayable in other currencies to 27 percent. This increase, it was reported, reflected the larger sums made available to the Bank from capital subscriptions paid in by members in non-dollar currencies and from borrowing outside the United States. Net income of $20 million was added to the supplemental reserve, increasing it to $97 million; the Special Reserve, to which the one percent commission on outstanding balances of all Bank loans was credited, was increased by $12 million, making a total of $49 million.

International Bank for Reconstruction and Development

1953 ◽  
Vol 7 (4) ◽  
pp. 561-565
Keyword(s):  
United States ◽  
Annual Report ◽  
The United States ◽  
Fiscal Year ◽  
Net Income ◽  
United States Dollar ◽  
International Bank ◽  
Economic Survey

The eighth annual report of the International Bank for Reconstruction and Development revealed a net income for the fiscal year July 1, 1952–June 30, 1953, of $18,485,411 as compared with $15,872,883 for the preceding fiscal year. The net income was placed in the Supplemental Reserve against losses on loans and guarantees, increasing that reserve to $76,513,511. The Bank's Special Reserve was raised to $37,236,477 by the addition of loan commissions amounting to $9,551,822. Total reserves at the end of the fiscal year were $113,749,988; total subscribed capital was $9,036,500,000. Ten loans had been made during the year totaling $178,633,464; since it had begun operations, the Bank had made loans amounting to $1,590,766,464. Non-dollar loans were larger in relation to the year's total than ever before in the Bank's operations. Total disbursements on new and existing loans were $226,756,982, the highest rate in the Bank's history; 17 percent of the year's disbursements were in currencies other than the United States dollar, another record high. In addition to its lending operations, the Bank had continued its practice of sending, eitheralone or in conjunction with other organizations, general economic survey missions and specialized missions to member countries on request.

Colombo Plan for Co-operative Economic Development in South and South-East Asia

1958 ◽  
Vol 12 (2) ◽  
pp. 254-256 ◽  
Keyword(s):  
United States ◽  
Economic Development ◽  
East Asia ◽  
Annual Report ◽  
The United States ◽  
Viet Nam ◽  
South East Asia ◽  
Economic Progress ◽  
Colombo Plan ◽  
Made In

The ninth meeting of the Consultative Committee of the Colombo Plan for Cooperative Economic Development in South and South-East Asia was held in Saigon, Viet Nam, October 21–24, 1957. The committee considered the draft annual report which reviewed the progress of economic development in the area and outlined the unfinished tasks. It was announced that the annual Canadian contribution to the Colombo Plan would be increased in 1958–1959, subject to the approval of Parliament, to $35 million. The United States representative informed the conference that a new $300 million development loan fund was being organized by his government to assist countries of south and southeast Asia. The Federation of Malaya was welcomed as a member of the Colombo Plan. On the final day of the meeting the invitation of the United States to hold the next year's meeting in the United States was accepted. The meeting adopted the draft annual report and issued a communiqué which noted the economic progress made in the area in the year under review and outlined some of the future tasks in economic development.

International Bank for Reconstruction and Development

1953 ◽  
Vol 7 (1) ◽  
pp. 134-137
Keyword(s):  
International Monetary Fund ◽  
Annual Report ◽  
Active Role ◽  
Bank Lending ◽  
International Bank ◽  
Board Of Governors ◽  
Private Participation ◽  
Credit Worthiness ◽  
The International Monetary Fund ◽  
Opening Session

The seventh annual meeting of the Board of Governors of the International Bank for Reconstruction and Development took place in Mexico City, Mexico, from September 3 to 12, 1952, under the chairmanship of Horacio Lafer, Minister of Finance of Brazil. Two of the Boards seven plenary sessions were joint sessions with the Board of Governors of the International Monetary Fund. In presenting the seventh annual report of the Bank to the Board, the President (Black) indicated that private participation in Bank lending would become an increasingly important feature of its operations and that from then on European countries would have to rely more on their own savings and mobilize their own capital more effectively. Mr. Black said that “the Bank, should it be called on, would be glad to search for feasible ways to assist” the European Coal and Steel Community. At the opening session the Chairman (Lafer) stated that the International Monetary Fund “must take a more active role” in using its resources, helping its members find a practical solution to their ex-change problems, and providing greater facilities for meeting temporary un-balance in international payments. He said that “it would be preferable to establish a system which would not compel countries to resort to harmful regimes of severe restrictions”, and that without “an international mechanism capable of supplying credits to an extent corresponding to the general credit Worthiness of each country, it will be impossible to attain the kind of multilateral trade we all hope to restore.”

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