The Post War Reconstruction Project is a $40 million loan financing reconstruction and modernization of the country's agriculture and industry sectors.
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.
The profile contains project and financial information and lists of project documents and archival records.
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).
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).
Oct. 15, 1946
The first exploratory meeting of the Loan Committee on the Denmark loan application focuses on general questions (1366954).
On page 61 of the transcript, Rist discusses the Bank's first mission to Denmark.
On page 12 of the transcript, Garner briefly mentions the loan.
The application sets out Denmark's geography, political, and economic structure and describes the country's reconstruction program and ability to service a loan.
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.
Document contains Board discussion concerning the Danish loan application.