European Stars And Stripes Newspaper Archives May 23 1957, Page 11

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European Stars And Stripes (Newspaper) - May 23, 1957, Darmstadt, Hesse T h e s t a r am d s t r i p e e a t u re s e i o 46 mks 12 can tvs is Loans w 7 confines Tou if Australia 6 Taos 65 Loans m is co Fitnet i to Whf Toralf Fly tie Banks record 19461957 r of Loans 166 Money invested Cost Trees benefited 44 the world Bank Marks a decade of service Ftp Ioe world has Attys had millions jul of impoverished people unable to get enough Money together to Start building world War n created millions Tea Yean ago a new International institution out to do something about today that organization the inter National Bank for reconstruction and development proudly surveys a decade of More than 93 billion in Loans have been pumped into 44 countries and bringing better living to count leu a new bakery in san a giant dam across a wild tropical River in Central Pedigree cattle to improve herds in hungry new steel industries for Power transport develop ment Banks wilderness areas thrown open to these Are some of the new projects realised through the world Banks assist the institution has visions of helping Many in the Bank loaned million a new where does the Bank gets its Money mostly from its 60 member who Are its when a country it pays i per cent of its Stock subscriptions Cash loons by financial institution have helped Many countries regain prewar economic stability by major a staff writer in Gold or dollars and 18 per cent in its own the remaining 80 per cent is not paid to the Bank but is subject to Call if the Bank should need some of it to meet its the subscribed capital of the Bank amounts to the has sub scribed the largest More than a additional Money comes from the Sale of the Banks own Bonds and by borrowing in the capital markets of the the Bank has borrowed million this million in the Bank May lend to member govern ments or to other borrowers in member Loans to these other borrowers Are guaranteed by the government con the Banks headed by president Eugene Black of maintain a firm policy of tending Only on projects that can themselves pay off the during the record year of the Bank made its largest loan for single million in various currencies to help build a 400foot High Power dam across the Zambesi River in the federation of Rhodesia and to the Banks largest have gone 10 Loans totalling More than the Money has helped India 377 million people achieve a 17 per cent in crease of National output their first five year a plan seeks a further increase or 25 per cent and the creation of 8 million new jobs through rapid Mexico electricity Supply has doubled since 1946 with the help of Bank the Bank has helped Peru in its ambitious program to build cultivate More modernize ports and stimulate the world Bank helped set up the ethiopian development which has made More than Loans to agriculture and Industry in the East african Bank Loans helped Uganda and Tanganyika in East Africa to plan joint development of and other War torn Europe crippled industries were aided by Bank mountainous Austria was helped on its Way to an International Power Center in the heart of Finland got electricity to modernize its lumbering Belgium received Loans to keep up its Industrial Italy was amed la Rij nation water to its backward Southern from its modest Headquarters in Wash Only n few Hundred i from the White the world does almost All its it made its first Loans in 1mt and in that year almost million to help in the postwar reconstruction of the Netherlands Denmark and the Bank has Lent since then another 1576 million in especially for development of electric Power and in in 1948 the Bank began lending in developed in these countries it has Lent mainly for projects to improve electric Power agriculture and locomotives for purchased with Money loaned by the Bank Eugene president of the stats and stripes May 1957

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