Date
Timeline Description

This loan to the Bank of Finland finances two power plants (one hydro and one thermal) and five woodworking projects.

Detail Description

Two electric power industry projects and five woodworking industry projects form the basis for this loan to the Bank of Finland. The power projects, Petajaskoski Hydroelectric Plant and the Vaasa Thermal Power Plant, will provide additional capacity. The five woodworking projects will procure equipment for plant expansion and the replacement or modernization of existing facilities. The projects will strengthen the international competitive position of this portion of the Finnish woodworking industry by reducing production costs and diversifying output.

Image Timeline
End-use mission report (1581942); regulation dam at Petajaskoski, Kemijoki River (1721465; Credit: The World Bank).
Image Timeline Caption

End-use mission report (1581942); regulation dam at Petajaskoski, Kemijoki River (1721465; Credit: The World Bank).

Resource
Title
Industry Project
Description
P037369: Approved March 24, 1955
The profile contains project and financial information and lists of project documents and archival records.
Image
Industry Project
Event
23
Title
Press release -- $12 million loan to Finland
Image
Press release -- $12 million loan to Finland
Description
March 24, 1955
The $12 million loan will be used to help carry forward projects for the expansion and modernization of the wood products industries and the electric power sector(1581941).
Event
23
Title
End-use mission report
Image
End-use mission report
Description
Sept. 4, 1957
The report provides information on the visit to Finland on September 4-12, 1957 to review the status of the woodworking and power projects financed by the five Bank loans to Finland. (1581942).
Event
23
Image
Black liquor recovery unit
Title
Black liquor recovery unit
Description
1956
Construction of the black liquor recovery unit at the Bjorneborg Papperstuck in Finland (1721465; Credit: The World Bank).
Event
23
Image
Regulation dam at Petajaskoski, Kemijoki River
Title
Regulation dam at Petajaskoski, Kemijoki River
Description
1958
The Petajaskoski hydroelectric power station on the Kemijoki River has a separate timber channel, bypassing the dam and transformers. Shown here is the regulation dam at Petajaskoski (1721465; Credit: The World Bank).
Event
23
Image
Vaskiluoto steam power plant
Title
Vaskiluoto steam power plant
Description
1956
The new Vaskiluoto steam power plant in Vaasa, Finland under construction with the aid of World Bank funds (1721465; Credit: The World Bank).
Event
23
Title
Power and Woodworking Projects: Appraisal Report
Image
Power and Woodworking Projects: Appraisal Report
Description
Document date: March 7, 1955
The report appraises the two electric power industry projects and five woodworking industry projects, as well as offers updates on earlier Finnish projects.
Event
23
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