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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

On June 6, 1961, the International Bank for Reconstruction and Development announced a $15 million loan to Ceylon for the expansion of Ceylon's electric generating capacity and for the extension of electric power distribution in western Ceylon. The loan, the third made by the Bank to Ceylon for the purpose of developing an integrated electric power system under the Department of Governmental Electrical Undertakings (DGEU), was to cover the foreign exchange requirements of the project; local currency costs were to be met from government contributions and from DGEU's earnings. The loan was a 25-year term loan at 5%¾ percent interest, with amortization to begin on November 15, 1964. Six commercial banks participated in the loan, without the International Bank's guarantee, for a total amount of $1.1 million.

Information

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 15 , Issue 4 , Fall 1961, pp. 705 - 710
Copyright
Copyright © The IO Foundation 1961

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References

page 705 note 1 International Bank for Reconstruction and Development, Press Release 691, June 6, 1961. For a summary of previous activities of the International Bank, see International Organization, Summer 1961 (Vol. 15, No. 3), p. 514–516CrossRefGoogle Scholar. All loans are made without the Bank's guarantee and interest rates include a 1 percent commission which is allocated to the Bank's Special Reserve.

page 705 note 2 International Bank for Reconstruction and Development, Press Release 693, June 14, 1961. For information on IDA's participation in the financing of the dam, see below, p. 709.

page 706 note 3 International Bank for Reconstruction and Development, Press Release 695, June 23, 1961.

page 706 note 4 ibid, Press Release 696, June 27, 1961.

page 706 note 5 ibid, Press Release 697, June 28, 1961.

page 706 note 6 For further details of IDA'S participation, see below, p. 709.

page 706 note 7 International Bank for Reconstruction and Development, Press Release 698, June 30, 1961.

page 706 note 8 ibid, Press Release 706, August 9, 1961.

page 707 note 9 ibid, Press Releases 701 and 708, July 7 and August 17, 1961, respectively.

page 707 note 10 ibid, Press Releases 694 and 702, June 16 and July 11, 1961, respectively.

page 707 note 11 ibid, Press Release 703, July 26, 1961.

page 707 note 12 ibid, Press Release 705, August 9, 1961.

page 707 note 13 ibid, Press Release 707, August 16, 1961.

page 707 note 14 ibid, Press Release 709, August 29, 1961

page 708 note 15 ibid, Press Release, July 18, 1961.

page 708 note 16 ibid, Press Release, August 2, 1961.

page 708 note 17 ibid, Press Release 704, August 9, 1961.

page 708 note 18 ibid, Press Release 699, July 1, 1961.

page 708 note 19 ibid, Press Release 710, August 28, 1961.

page 709 note 20 ibid, Press Release 700, July 5, 1961.

page 709 note 21 ibid, Press Release, August 31, 1961.

page 709 note 22 ibid, Press Release, September 6, 1961.

page 709 note 1 For a summary of the previous activities of IDA see International Organization, Summer 1961 (Vol. 15, No. 3), p. 517CrossRefGoogle Scholar.

page 709 note 2 International Development Association, Press Release 6, June 21, 1961.

page 709 note 3 For the Bank's part in these projects, see above, p. 705, 706, and 707, respectively.

page 709 note 4 International Development Association, Press Release 5, June 14, 1961.

page 709 note 5 ibid, Press Release 7, June 28, 1961.

page 709 note 6 ibid, Press Release 8, August 29, 1961.

page 710 note 7 ibid, Press Release 9, August 30, 1961.