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International Bank for Reconstruction and Development

Published online by Cambridge University Press:  22 May 2009

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Extract

During the period from December 22, 1955 to February 21, 1956, the International Bank for Reconstruction and Development made two loans in two countries. A loan of $4.2 million to Honduras was announced by the Bank on December 22, to enable a highway maintenance organization to be set up and begin operations; the loan was also to finance preliminary engineering studies for the improvement and new construction of various sections of two of the country's important highways. The Bank of America of San Francisco, the American Security and Trust Company of Washington, D. C. and the Whitney National Bank of New Orleans participated in the loan, without the Bank's guarantee, to the extent of $872,000. The total cost of the project was estimated to be equivalent to $8 million The loan was for a period of nine years at an annual interest of 4½ percent, including the Bank's commission; amortization was to begin on December 1, 1957. This was the first Bank loan to Honduras.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 10 , Issue 2 , May 1956 , pp. 312 - 314
Copyright
Copyright © The IO Foundation 1956

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References

1 International Bank for Reconstruction and Development, Loan No. 135 HO; ibid., Press Release 432, December 22, 1955.

2 Ibid., Press Release 437, February 22, 1956.

3 Ibid., Press Release 434, January 16, 1956.

4 Ibid., March 5, 1956.

5 Ibid., Press Release 436, February 6, 1956.

6 For information on the Articles of Agreement of the International Finance Corporation, see International Organization, IX, p. 424–425.

7 International Bank for Reconstruction and Development, Press Release, February 1, 1956.

8 Ibid., 433, January 13, 1956.

9 Ibid., Press Release, n.d.

10 New York Times, February 10, 1956.

11 The Times (London), 02 11, 1956Google Scholar; ibid., February 13, 1956.