Date
Timeline Description

The Bank’s first funding for Norway will support the foreign exchange needed to meet payments for merchant shipping.

Detail Description

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.

Image Timeline
Memorandum from L. Baranyai to files discussing Norway loan agreement (1705798).
Image Timeline Caption

Memorandum from L. Baranyai to files discussing Norway loan agreement (1705798).

Resource
Title
General Development Project
Description
P037466: Approved April 8, 1954
The profile contains project and financial information and lists of project documents and archival records.
Image
General Development Project
Event
21
Title
Memorandum from L. Baranyai to files
Image
Memorandum from L. Baranyai to files
Description

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).

Event
21
Title
Press Release -- $25 million loan to Norway
Image
Press Release -- $25 million loan to Norway
Description

April 8, 1954
The World Bank makes a loan of $25 million to Norway to help with the expansion of its merchant fleet. (1705799).

Event
21
Image
Signing of the General Development project for Norway
Title
Signing of the General Development project for Norway
Description

c.1954
President Black and Norwegian delegates sign loan agreement documents (1726693; Credit: The World Bank).

Event
21
Title
The Norwegian Merchant Marine
Image
The Norwegian Merchant Marine
Description
Document date: March 26, 1954
The report examines the present position and future prospects of Norway's Merchant Marine fleet.
Event
21
Title
Shipping Project: President's Report
Image
Shipping Project: President's Report
Description
Document date: March 31, 1954
The report describes and appraises the proposed loan and recommends that it be granted.
Event
21
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