Journal Issue
Share
Article

Recent Activity: International Bank for Reconstruction and Development International Development Association International Finance Corporation

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
September 1964
Share
  • ShareShare
Show Summary Details

AFRICA

Regional: A four-man mission began a study of the special problems of agriculture in Africa south of the Sahara. The mission is in Kenya, and will next visit Tanganyika.

Morocco: A comprehensive economic survey mission completed its field work in May and is now preparing its report and recommendations for an economic development program.

Northern rhodesia: The Bank has agreed to organize and help finance a study of the country’s general transport requirements, including the priorities of various proposals for the future development of transport. The Bank has undertaken to meet foreign exchange costs estimated at $140,000.

Sudan: The Consultative Group on the Sudan met during the quarter to discuss the coordination of financial assistance in connection with the country’s Ten-Year Plan. Representatives of Belgium, France, the Federal Republic of Germany, Italy, Japan, the Netherlands, Switzerland, the United Kingdom, the United States, the Bank, and the International Development Association (IDA) attended the meeting.

Tunisia: The Bank provided a consultant to study the Tunisian capital market. His final report has been transmitted to the Government.

EUROPE

Finland: At the request of the Government, the Bank is assisting in the organization of an over-all transport study.

Portugal: A joint mission, organized by the Bank and the International Monetary Fund to advise the Government on the financing of Portugal’s development effort, completed its field work. It is now preparing its report.

ASIA AND THE MIDDLE EAST

India: The Consortium on Aid to India met on May 26. Participants were Austria, Belgium, Canada, France, the Federal Republic of Germany, Italy, Japan, the Netherlands, the United Kingdom, the United States, the Bank, and IDA. The Consortium pledged the equivalent of $1,028 million, subject as appropriate to legislative or other necessary authorization, to assist the fourth year (April 1, 1964 -March 31, 1965) of the current Indian Five-Year Plan.

Pakistan: The Consortium on Aid to Pakistan met at the Bank on May 27 and 28 to review the progress of Pakistan’s economic development program. Participants were Belgium, Canada, France, the Federal Republic of Germany, Italy, Japan, the Netherlands, the United Kingdom, the United States, the Bank, and IDA.

The Bank is organizing a study of the water and power resources of West Pakistan, financed by the Indus Basin Development Fund. It should provide the Government with a basis for development planning in the water and power sectors.

The Indus Basin Development Fund (Supplemental) Agreement came into force on April 6. Under the Agreement, the Development Fund was provided with additional foreign exchange resources amounting to $315 million to be applied toward the cost of works to be constructed by Pakistan in the Indus Basin. The contributors were Australia, Canada, the Federal Republic of Germany, New Zealand, the United Kingdom, the United States, the Bank, and IDA. The share of Bank and IDA was $58.5 million.

The Bank has agreed to act as Executing Agency for a UN Special Fund survey to determine the future telecommunications requirements of the country and to ensure the rational and efficient development and operation of telecommunications.

Republic of China: A study to formulate an investment program for the improvement of transportation facilities was completed. The Bank paid $207,000 to cover the foreign exchange costs.

A Bank staff member completed a preliminary study looking toward measures to accelerate industrial growth.

Thailand: A Bank mission to advise the National Economic Development Board and the Committee for Development of the Northeast completed its assignment in June.

WESTERN HEMISPHERE

Colombia: The Consultative Group on Colombia, comprising representatives of Belgium, Canada, Denmark, France, the Federal Republic of Germany, Italy, Japan, the Netherlands, Switzerland, the United Kingdom, the United States, the Bank, and the Inter-American Development Bank, met in June. The Group reviewed the year’s activities and considered a list of projects under the Colombian Development Plan which were in a sufficiently advanced stage of preparation to be ready for financing before the end of 1965.

Guatemala: A year-long mission to advise the Government on development policy and planning completed its assignment.

A UN Special Fund survey of power and irrigation, for which the Bank acted as Executing Agency, was completed.

Honduras: A year-long mission to advise the Government on development policy and planning completed its assignment in April.

Surinam: The Bank has agreed to serve as Executing Agency for the port and transportation study financed by the UN Special Fund.

OTHER ACTIVITIES

As a first step toward meeting regional training needs, the Bank’s Economic Development Institute completed arrangements for holding in Jaipur, India, a two-month course on project preparation and evaluation. The course is to commence in October, and will be for participants from Afghanistan, Burma, Ceylon, India, Malaysia, Nepal, Pakistan, and Thailand.

The Economic Development Institute began on April 6 its third annual course on development planning conducted in the French language. Nineteen officials from Algeria, Cameroon, Chad, Comoro Islands (France), Congo (Brazzaville), Haiti, Iran, Ivory Coast, Laos, Lebanon, Madagascar, Morocco, Senegal, and Tunisia, participated in the 15-week course.

On May 26, Mr. George D. Woods, President of the Bank, announced the appointment of Mr. Orvis A. Schmidt, Director of the Department of Operations, Western Hemisphere, to be his Special Adviser on matters concerning Latin America. Mr. Schmidt is also available to advise and assist the Chairman of the recently created Inter-American Committee for the Alliance for Progress, Dr. Carlos Sanz de Santamaria, and to act as his point of liaison with the World Bank. Mr. Gerald Alter, who was Economic Adviser to the Western Hemisphere Department, became the Director of Operations.

WORLD BANK LOANS DURING THE SECOND QUARTER OF 1964
CountryPurposeAmount

($ million)
AlgeriaGas Liquefaction20.5
EcuadorHighways9.0
EthiopiaPower23.5
IranRoads18.5
JapanExpress Highway50.0
PakistanPort17.0
PakistanGas Pipeline15.0
PakistanIndustrial Development Finance Company30.0
PeruPort3.1
TunisiaPort7.0
Total for the second quarter193.6
Loans made during the first quarter of 1964113.2
Total amount lent during the first six months of 1964306.8
IDA CREDITS DURING THE SECOND QUARTER OF 1964
CountryPurposeAmount

($ million)
EcuadorHighways8.0
IndiaIndustrial Imports90.0
NigerRoads1.5
PakistanHighways39.5
PakistanRailways35.0
Total for the second quarter of 1964174.0
Total amount of credits extended during the first quarter of 196427.0
Total amount of credits extended during the first six months of 1964201.0
IFC INVESTMENTS DURING THE SECOND QUARTER OF 1964
CountryType of ProjectAmount*
ColombiaIndustrial Finance Company$ 701,403
ColombiaSteel Forgings1,503,006
HondurasLeather Tannery350,000
IndiaTextile Machinery1,380,000
PeruCement1,600,000
SudanTextile Mill689,588
TanganyikaSugar manufacture1,931,172
Total investments during the second quarter of 1964$8,155,169
Invest ments during the first quarter of 19648,554,582
Total investments during the first six months of 1964$16,709,751

Figures include stand-by and underwriting commitments.

Figures include stand-by and underwriting commitments.

Other Resources Citing This Publication