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International Bank for Reconstruction and Development
Published online by Cambridge University Press: 22 May 2009
Extract
The International Bank for Reconstruction and Development announced on October 17, 1962, a loan of $22 million to Israel for highway construction and improvement. During the next four and onehalf years, about 512 inter-urban highways were to be built or reconstructed to higher standards to provide better communication with ports, to reduce traffic congestion and transport costs, and to improve traffic safety. About 155 miles of feeder and access roads, linking agricultural and other settlements to the main highway network, were also to be improved. The total cost of the road construction and improvements was estimated at $46 million; the Bank loan of $22 million was to cover the foreign exchange requirements of this work and also of related imported equipment and services. The loan was for a term of seventeen years, and amortization was to begin in January 1967.
- Type
- International Organizations: Summary of Activities: II. Specialized Agencies
- Information
- Copyright
- Copyright © The IO Foundation 1963
References
1 International Bank for Reconstruction and Development, Press Release 62/35, October 17, 1962. For a summary of previous activities of the International Bank, see International Organization, Autumn 1962 (Vol. 16, No. 4), pp. 872–874CrossRefGoogle Scholar.
2 All Bank loans summarized in this section were at an interest rate of 5½ percent per annum, including the one percent commission allocated to the Bank's Special Reserve.
3 International Bank for Reconstruction and Development, Press Release 62/37, October 26, 1962.
4 International Bank for Reconstruction and Development, Press Release 62/40, November 7, 1962.
5 International Bank for Reconstruction and Development, International Development Association, Joint Press Release of October 24, 1962.
6 International Bank for Réconstruction and Development, Press Release 62/31, September 14, 1962.
7 International Bank for Reconstruction and Development, Press Release 62/33, October 2, 1962.
8 International Bank for Reconstruction and Development, Press Release 62/34, October 5, 1962.
9 International Bank for Reconstruction and Development, Press Release 62/41, November 20, 1962.
10 International Bank for Reconstruction and Development, Press Release of November 21, 1962.
11 International Bank for Reconstruction and Development, Press Release 62/39, November 1, 1962.
12 International Bank for Reconstruction and Development, Press Release 62/38, November 2, 1962.
13 International Development Association, Press Release 62/20, November 2, 1962. For a summary of previous IDA activities, see International Organization, Autumn 1962 (Vol. 16, No. 4), pp. 874–876Google Scholar.
14 In all IDA credit operations summarized in this section, the credit was interest free, and a service charge of ¾ of one percent per annum on the amount withdrawn and outstanding was to be made to meet IDA's administrative costs.
15 International Development Association, Press Release 62/21, November 2, 1962.
16 International Development Association, Press Release 62/22, November 2, 1962.
17 International Development Association, Press Release 62/23, November 23, 1962.
18 International Bank for Reconstruction and Development, International Development Association, Joint Press Release of October 24, 1962.
19 For a summary of previous activities of IFC, see International Organization, Autumn 1962 (Vol. 16, No. 4), p. 876CrossRefGoogle ScholarPubMed.
20 International Finance Corporation, Press Release 62/8, November 1, 1962.
21 International Finance Corporation, Press Release 62/9, November 9, 1962.
22 Inter-American Development Bank, International Finance Corporation, Joint Press Release of November 26, 1962.