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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

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.

Information

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 16 , Issue 4 , Autumn 1962, pp. 872 - 876
Copyright
Copyright © The IO Foundation 1962

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References

1 International Bank for Reconstruction and Development, Press Release 62/24, July 11, 1962. For a summary of previous activities of the International Bank, see International Organization, Summer 1962 (Vol. 16, No. 3), pp. 602–613Google Scholar.

Interest on loans here mentioned includes a one percent commission allocated to the Bank's Special Reserve. Private participation in loans is without the Bank's guarantee.

2 International Bank for Reconstruction and Development, Press Release 62/28, August 15, 1962.

3 International Bank for Reconstruction and Development, Press Release 62/30, September 14, 1962.

4 International Bank for Reconstruction and Development, Press Release 62/32, September 14, 1962.

5 International Bank for Reconstruction and Development, Press Release 62/22, July 2, 1962.

6 International Bank for Reconstruction and Development, Press Release 62/25, July 26, 1962.

7 International Bank for Reconstruction and Development, Press Release of August 3, 1962.

8 International Bank for Reconstruction and Development, Press Release 62/26 (also International Development Association, Press Release 62/11), July 30, 1962. For a summary of previous meetings of the Consortium, see International Organization, Summer 1962 (Vol. 16, No. 3), pp. 611–612Google Scholar.

9 International Monetary Fund, International Bank for Reconstruction and Development, Joint Press Release of August 1, 1962.

10 International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Joint Press Release of August 31, 1962.

11 Ibid.

12 International Monetary Fund, International Bank for Reconstruction and Development, Joint Press Release of September 10, 1962.

13 Ibid.

14 International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Joint Press Release of September 13, 1962.

15 International Bank for Reconstruction and Development, Press Release 62/27, August 7, 1962.

16 Ibid., and International Bank for Reconstruction and Development, Facts about the World Bank and the International Development Association, 06 30, 1962Google Scholar.

17 International Development Association, Press Release 62/7, June 29, 1962. For a summary of previous IDA activities, see International Organization, Summer 1962 (Vol. 16, No. 3), pp. 613–615Google Scholar.

This credit, and others here referred to, were extended for a term of 50 years, free of interest. Repayment of principal was to begin after a ten year period of grace. Thereafter, 1 percent of the principal was to be repayable annually for ten years and 3 percent for the final 30 years. A service charge of ¾ A of 1 percent per annum on the amount withdrawn and outstanding was to be made to meet IDA's administrative costs.

18 International Development Association, Press Release 62/8, June 29, 1962.

19 International Development Association, Press Release 62/9, July 11, 1962.

20 International Development Association, Press Release 62/17, September 14, 1962.

21 International Development Association, Press Release 62/10, July 18, 1962.

22 International Development Association, Press Release 62/12, August 8, 1962.

23 International Development Association, Press Release 62/16, September 14, 1962.

24 International Development Association, Press Release 62/14, August 17, 1962.

25 International Development Association, Press Release 62/15, September 7, 1962.

26 International Development Association, Press Release 62/18, September 17, 1962.

27 International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Joint Press Releases of August 31, 1962 and September 13, 1962.

28 International Finance Corporation, Press Release 62/7, August 10, 1962. For a summary of previous activities of IFC, see International Organization, Summer 1962 (Vol. 16, No. 3), pp. 615–619Google Scholar.

29 International Finance Corporation, Press Release of August 30, 1962.

30 Ibid., and International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Joint Press Release of August 31, 1962.

31 International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Joint Press Release of September 13, 1962.