Date
Timeline Description

The Post War Reconstruction Project is a $40 million loan financing reconstruction and modernization of the country's agriculture and industry sectors.

Detail Description

The economy of Denmark is hampered by the post-war situation and is in need of foreign exchange and general funding for the import of equipment and materials. This is caused by depredation and depreciation of farm and industrial machinery, as well as the loss of 40% of the pre-war merchant fleet. The $40 million loan constitutes 9% of the country's estimated net capital expenditures during 1947-48. It is designed to finance the import of essential capital goods and raw materials, including agricultural and textile machinery, machine tools, trucks, steel, textile fibers, non-ferrous metals, and chemicals.

Image Timeline
The Loan Committee's memo relating to a meeting on the Denmark loan application (1366954).
Image Timeline Caption

The Loan Committee's memo relating to a meeting on the Denmark loan application (1366954).

Resource
Title
Post-War Reconstruction Project
Description
P037362: Approved Aug. 22, 1947
The profile contains project and financial information and lists of project documents and archival records.
Image
Post-War Reconstruction Project
Event
3
Title
Correspondence from Charles C. Pineo to President Meyer
Image
Correspondence from Charles C. Pineo to President Meyer
Description

Nov. 27, 1946
Pineo informs President Meyer of the conclusion of the Loan Committee to send a Bank representative to Copenhagen to collect additional information (1366954).

Event
3
Title
Press release -- Denmark loan approved
Image
Press release -- Denmark loan approved
Description
Aug. 22, 1947
Press release announces that a loan agreement calling for a committment of $40 million dollars is signed by Danish Ambassador Hendrik Kauffmann and Bank President John J. MoCloy (1575317).
Event
3
Title
Loan Committee memo
Image
Loan Committee memo
Description

Oct. 15, 1946
The first exploratory meeting of the Loan Committee on the Denmark loan application focuses on general questions (1366954).

Event
3
Title
Interview with Leonard Rist
Image
Interview with Leonard Rist
Description
Interview date: July 19, 1961
On page 61 of the transcript, Rist discusses the Bank's first mission to Denmark.
Event
3
Title
Interview with Robert Garner
Image
Interview with Robert Garner
Description
Interview date: July 19, 1961
On page 12 of the transcript, Garner briefly mentions the loan.
Event
3
Title
Post-War Reconstruction Project: Danish Loan Application
Image
Post-War Reconstruction Project: Danish Loan Application
Description
Document date: June 11, 1947
The application sets out Denmark's geography, political, and economic structure and describes the country's reconstruction program and ability to service a loan.
Event
3
Title
Post-War Reconstruction Project: Second Loan Administration Report 
Image
Post-War Reconstruction Project: Second Loan Administration Report 
Description
Document date: April 5, 1950
The report examines the loan's disbursement and end use as well as Denmark's relations with the Bank and the general situation of the Danish economy.
Event
3
Title
Transcript of the 104th Meeting of Executive Directors
Image
Transcript of the 104th Meeting of Executive Directors
Description
Document date: Aug. 22, 1948
Document contains Board discussion concerning the Danish loan application.
Event
3
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