World Bank Group Timeline
Funding for Iceland's agriculture sector approved
The Agriculture Project for Iceland will assist in financing a plan for the development of agriculture and improvements on individual farms. The project will aid in the increase of agricultural production by: purchasing cement, steel, timber, and other building materials for construction; constructing farm buildings, such as dairy barns, sheep sheds, horse stables, hay barns, silos, and machine sheds; erecting new farm houses and improving existing ones; and draining, plowing, reseeding, and fencing grasslands. These improvements will help to increase the output of animal products and boost Iceland's balance of payments.
Resource Gallery
Agriculture Project: President's Report
Document date: Oct. 22, 1951
The report describes the loan, appraises it, ensures that the loan is in compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.
An Investment Program for Iceland
Document date: June 11, 1951
The report contains a survey of Iceland's economic position, prospects for development, and major lines of future investment.
Correspondence from Eysteinn Jonsson to President Black
July 11, 1951
Eysteinn Jonsson, Iceland Minister of Fiannce, discusses the agriculture sector loan, mentioning Mr. Kephart's study of agricultural development of Iceland (1361744).
Correspondence from N. J. Patersen to the Working Party
Oct. 24, 1951
Patersen sets out a list of steps taken or to be taken in connection with the proposed agricultural loan to Iceland (1361744).
Agriculture Project
P037385: Approved Oct. 31, 1951
The profile contains project and financial information and lists of project documents and archival records.
Signing of the Iceland Agriculture Project
1951
Signing the loan documents are H. E. Thor Thors, Icelandic Minister in the United States, and Eugene R. Black, President of the Bank (1722315; Credit: The World Bank).
Hydro-Electric, Agriculture and Fertilizer Plant Projects: First Administration Report
Document date: Aug. 26, 1953
The report examines the loans' disbursement, end use, and service.
