The $75 million loan will finance industrial and power projects in the region.
The Cassa program has been a notable factor in improving economic conditions in the south of Italy. The additional $75 million will support the new impetus towards industrialization. $29.4 million will be re-lent by Cassa for six industrial projects (potash, electroplate tinplate, refrigerator production, and a clothing factory). $29.2 million is for two power companies to finance a thermal plant and hydroelectric storage project. The remainder, $16.4 million, will be spent on projects that will bring an additional 270,000 acres under irrigation.
The profile contains project and financial information and lists of project documents and archival records.
Italian Ambassador Manlio Brosio requests that the Bank send a mission to Italy to study issues related to the implementation of agrarian reform in the country (1854151).
Vice President Knapp informs the President of Cassa per il Mezzogiorno Professor Gabriel Pescatore that the Bank is ready to commence work on a loan which will complete the series of loans to the Cassa (1854151).
The term of reference outlines the tasks for the Bank's appraisal mission to Italy to appraise projects in the agricultural sector, which are under consideration for the Bank's next loan to the Cassa per il Mezzogiorno (1854151).
The report reviews the economy of southern Italy and the involvement of Cassa per il Mezzogiorno.
The report describes and appraises the six industrial, two irrigation, and two power projects for Italy.