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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 announced on April 8, 1959, a loan equivalent to $25 million to India for the Koyna hydro-electric power project inthe State of Bombay. This loan was expected to cover most of the foreign exchange requirements of the total cost of the first stage of the project, estimated at the equivalentof $118 million. It was for a term of 25 years and bore interest of 5¾ percent, including the I percent commission allocated to the Bank's Special Reserve. Amortization was to begin in May 1965.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 13 , Issue 3 , Summer 1959 , pp. 466 - 467
Copyright
Copyright © The IO Foundation 1959

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References

1 International Bank for Reconstruction and Development, Press Release No. 581, April 8, 1959.

2 Ibid., Press Release No. 582, April 22, 1959.

3 Ibid., Press Release No. 586, May 20, 1959.

4 Ibid., Press Release No. 586, May 20, 1959.

5 Ibid., Press Release No. 587, May 29, 1959.

7 Ibid., Press Release No. 588, May 29, 1959.

8 Ibid., Press Release No, 580, April 8, 1959.

9 Ibid., Press Release No. 563, April 29, 1959.

10 International Finance Corporation, press Release No. 24. June 1, 1959.