Date
Timeline Description

The Industrial Credit Project will finance loans to modernize and expand private industrial enterprises in Austria.

Detail Description

The loan will be made to the Oesterreichische Investitionskredit A. G., a development bank created by the Austrian government, which will, in turn, re-lend the money to 10 private companies. It will provide the capital needed for the modernization or expansion of well-established Austrian industrial firms, many of which produce for export as well as for domestic consumption. Six of the firms are in the paper and pulp industry, where the loans will assist in the shift to modernization and the processing of larger quantities of pulp into paper. Three of the other borrowers are textile manufacturers and the other is a producer of electrical equipment.

Image Timeline
The Kunert hosiery plant at Rankweil in Austria (1715986; The World Bank).
Image Timeline Caption

The Kunert hosiery plant at Rankweil in Austria (1715986; The World Bank).

Resource
Title
Industrial Financing Project
Description
P037353: Approved April 24, 1958
The profile contains project and financial information and lists of project documents and archival records.
Image
Industrial Financing Project
Event
36
Title
Press release -- $10 million loan to Austrian industry sector
Image
Press release -- $10 million loan to Austrian industry sector
Description

April 28, 1958
The press release describes how the World Bank loan will assist firms in the pulp and paper industry, as well as textile, chemical and engineering manufacturers (1516788).

Event
36
Title
Speech by Wilfried Platzer
Image
Speech by Wilfried Platzer
Description

April 28, 1958
Austrian Ambassador Dr. Wilfried Platzer gives a speech at the occasion of the signing of the industrial loan to Austria (1516788).

Event
36
Image
Kunert hosiery plant
Title
Kunert hosiery plant
Description
c.1958
The Kunert hosiery plant at Rankweil in Austria. The plant is one of several medium-sized industrial concerns being modernized with the aid of a Bank loan to the Austrian Development Bank (1715986; The World Bank).
Event
36
Image
Worker operating  a vacuum drier
Title
Worker operating a vacuum drier
Description
c.1958
A vacuum drier at the Glanzstoff rayon plant at St. Polten in Lower Austria (1715986; The World Bank).
Event
36
Title
Industrial Credit Project: Appraisal Report
Image
Industrial Credit Project: Appraisal Report
Description
Document date: April 14, 1958
The report describes and appraises the eleven industrial projects.
Event
36
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