The loan to Belgium will finance the purcahase of equipment to modernize and expand two of Belgium's key industries, steel and power.
The $16 million loan to the Kingdom of Belgium provides financing for the import of equipment for the construction of two steel mills and a power plant in the industrial district of Liege. The projects will help modernize and expand two of Belgium’s key industries and thereby contribute to an increase in the country’s productivity, in concordance with the Bank’s policy of supplementing the European Recovery Program (ERP) by helping finance projects to expand or modernize Europe’s productive capacity.
The profile contains project and financial information and lists of project documents and archival records.
Mr. Penton discusses the commencement of negotiations for a $16 million loan to Belgium for capital equipment (1535518).
Mr. Penton circulates his report on Belgium and requests a Loan Committee meeting to discuss his findings. The report is included (1535518).
The World Bank grants a $16 million loan to Belgium to finance imports of equipment for the construction of two steel mills and a power plant (1535521).
The completed plant will supply electricity to many private consumers and industries, among them two steel mills that contain equipment also financed under the Bank’s loan (1716467; Credit: The World Bank).
World Bank and Belgian officials sign loan documents (1716467; Credit: The World Bank).
On pages 30-31, Black discusses the Bank's lending policy regarding Belgium.
On page 11 of the transcript, Ripman briefly discusses the loans to Belgium.
On pages 21-22, Sommers discusses challenges related to the Bank's lending policy for Belgium.
The report contains an appraisal of the three projects contained in the Belgian loan application.
Photos and a brief description of the project appear on the front page of the issue.
The report discusses the loan's disbursement, end use, and effect on the Belgium economy. The general situation of the Belgian economy is also considered.