The Bank’s first funding for Norway will support the foreign exchange needed to meet payments for merchant shipping.
This first funding for shipping in Norway, in the form of a $25 million loan, will support the import of capital equipment required for the development of the Norwegian economy. Specifically, it will provide foreign exchange to enable Norway to pay for ships ordered from foreign shipyards.
The profile contains project and financial information and lists of project documents and archival records.
March 12, 1954
The memo includes information on the meeting of Bank staff called to discuss the amount and form of the Norway loan agreement (1705798).
April 8, 1954
The World Bank makes a loan of $25 million to Norway to help with the expansion of its merchant fleet. (1705799).
President Black and Norwegian delegates sign loan agreement documents (1726693; Credit: The World Bank).
The report examines the present position and future prospects of Norway's Merchant Marine fleet.
The report describes and appraises the proposed loan and recommends that it be granted.