The second loan to the Oesterreichische Investitionskredit A. G. (IVK) will finance various industrial projects as chosen by IVK and approved by the Bank.
The Second Industrial Credit Project for Austria provides funds to the Oesterreichische Investitionskredit A. G. (IVK) to finance industrial projects approved by the World Bank. This loan differs from the first loan to IVK in that, after initial evaluation and selection, IVK submits applications for individual loans to the Bank for final approval, and each project bears interest at the Bank's current rate at the time the project is approved.
The profile contains project and financial information and lists of project documents and archival records.
April 18, 1957
President Black discusses his meeting with the Austrian Finance Minister related to the industrial finance project (85I).
The report discusses further lending to the Oesterreichische Investitionskredit, A. G., concluding by recommending a second loan in the amount of $9 million to finance industrial projects (1516865).
Austrian Ambassador Wilfried Platzer thanks the World Bank for promptly organizing a requested mission to Austria (1516865).
Investitionskredit A. G. informs the Bank of their preliminary approval of the draft loan agreement (1516865).
Large paper rollers in the Nettingsdorfer paper mill in Austria (1716009; Credit: The World Bank).
A finishing process in the manufacture of rubber boots in the Semperit rubber factory in Wimpassing, Austria (1716009; Credit: The World Bank).
The report describes and appraises the project.