Date
Timeline Description

The lending program for the development of southern Italy begins with this loan to the Cassa per il Mezzigiorno and focuses on agriculture.

Detail Description

The Cassa per Opere Straordinarie di Pubblico Interesse nell’Italia Meridionale is established to implement the Government’s 10-year plan for the development of southern Italy, including Sicily and Sardinia. The $10 million loan to the Cassa Plan involves the execution of a very large public works program, principally consisting of land reclamation and irrigation projects. Three-fourths of the loan will be used in agriculture, mainly for irrigation, drainage, and clearance of land. As a result, the area under irrigation in southern Italy will increase tenfold. Additional investment in public utilities, such as aqueducts, roads, and tourist facilities make up the remaining 25%.

Image Timeline
Correspondence from the Italian Embassy to Bank President McCloy regarding the appointment of Donato Menichella as negotiator (1854076).
Image Timeline Caption

Correspondence from the Italian Embassy to Bank President McCloy regarding the appointment of Donato Menichella as negotiator (1854076).

Resource
Title
Equipment for Development Project
Description
P037413: Approved Oct. 10, 1951
The profile contains project and financial information and lists of project documents and archival records.
Image
Equipment for Development Project
Event
12
Description

Sept. 30, 1959
The Italian Governor speaks about the many ways the Bank has benefited his country (110I).

Image
Governor of Italy address to the Boards of Governors
Title
Governor of Italy address to the Boards of Governors
Audio File
Event
12
Title
Correspondence from Italian Embassy to President McCloy
Image
Correspondence from Italian Embassy to President McCloy
Description
Dec. 22, 1947
The Italian government notifies the Bank that the Director General of the Banca d'Italia, Dottor Donato Menichella, is appointed to negotiate regarding the proposed loan (1854076).
Event
12
Title
Preliminary report of the Bank's mission to Italy
Image
Preliminary report of the Bank's mission to Italy
Description
June 21, 1948
The report summarizes the highlights of the Bank's mission to Italy from April 13 to June 6, 1948. As recommended by the mission team, Italy submits more projects as consideration for basis of a loan (1854076).
Event
12
Title
Summary of loan negotiations
Image
Summary of loan negotiations
Description
May 16, 1948
The document reports on the status of negotiations and considerations by the Bank to send its representatives to Italy for consultations with the governement (1854076).
Event
12
Image
Development project construction site
Title
Development project construction site
Description
c.1951
One of the sites included in Italy's development project (1724400; Credit: The World Bank).
Event
12
Image
Italian villagers on horseback
Title
Italian villagers on horseback
Description
c.1951
A southern Italian town which will benefit from a road program that will provide substantial employment in critical areas (1724400; Credit: The World Bank).
Event
12
Image
Workers on site in southern Italy
Title
Workers on site in southern Italy
Description
c.1951
Operation of equipment for the development project in Italy (1724400; Credit: The World Bank).
Event
12
Title
Cassa Per Il Mezzogiorno Project: Summary and Appraisal of Activities until June 1953
Image
Cassa Per Il Mezzogiorno Project: Summary and Appraisal of Activities until June 1953
Description
Document date: Sept. 28, 1953
The report summarizes progress on the Cassa Plan in Italy from Nov. 1950 to Sept. 1953 and gives an appraisal of the 1953 situation.
Event
12
Title
Development of Southern Italy: Appraisal Report
Image
Development of Southern Italy: Appraisal Report
Description
Document date: July 31, 1951
The report examines the proposed project, notes the financial requirements, and touches on bidding processes, private investment funds for agriculture, and Cassa organization.
Event
12
Title
Transcript of the 129th Special Meeting of Executive Directors
Image
Transcript of the 129th Special Meeting of Executive Directors
Description
Document date: Oct. 10, 1951
The transcript contains the Executive Directors' discussions concerning the loan to Italy.
Event
12
Title
Interview with Aron Broches
Image
Interview with Aron Broches
Description
Interview date: July 11, 1961
On pages 34-36 of the transcript, Broches discusses the evolution of expenditure loans beginning with Italy.
Event
12
Title
Interview with Harold Larsen
Image
Interview with Harold Larsen
Description
Interview date: August 25, 1961
On pages 22-23 of the transcript, Larsen discusses the uniqueness of the lending policy for Italy.
Event
12
Title
Interview with Leonard Rist
Image
Interview with Leonard Rist
Description
Interview date: July 19, 1961
On pages 54-58 of the transcript, Rist discusses the uniqueness of the lending policy for the loans to Italy.
Event
12
Title
Interview with Paul N. Rosenstein-Rodan
Image
Interview with Paul N. Rosenstein-Rodan
Description
Interview date:August 14, 1961
On pages 11-17 of the transcript, Rosenstein-Rodan provides the background for the loans to Italy.
Event
12
Title
Interview with Alexander Stevenson
Image
Interview with Alexander Stevenson
Description
Interview date: August 10, 1961
On pages 22-24 of the transcript, Stevenson discusses the non-project aspect of the loans to Italy.
Event
12
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