Date
Timeline Description

The timber loan is part of a Europe-wide cooperative project to increase production by European timber exporting countries and augment timber supplies in importing countries.

Detail Description

The timber loan is part of a Europe-wide cooperative project of the Bank, the Economic Commission for Europe, and the United Nation's Food and Agricultural Organization (FAO). It is designed to increase the production of sawn soft-wood and pit props by the European timber exporting countries and augment the supplies of these products in importing countries. The machinery obtained by Finland will enable the country to increase their annual production and exports of timber.

Image Timeline
Report of a Staff Loan Committee that describes the status of loans that the Bank is considering as part of the Timber Equipment project (1368375).
Image Timeline Caption

Report of a Staff Loan Committee that describes the status of loans that the Bank is considering as part of the Timber Equipment project (1368375).

Resource
Title
Agriculture Timber Equipment Project
Description
P037365: Approved Oct. 13, 1949
The profile contains project and financial information and lists of project documents and archival records.
Image
Agriculture Timber Equipment Project
Event
10
Title
Report of the Staff Loan Committee
Image
Report of the Staff Loan Committee
Description
May 13, 1949
The report briefly describes the status of the loans that the Bank is considering as part of the Timber Equipment project (1368375).
Event
10
Title
Correspondence from Sigurd von Numers to President McCloy
Image
Correspondence from Sigurd von Numers to President McCloy
Description
Dec. 28, 1948
In the letter, Sigurd von Numers requests $3 million dollars as part of the timber loan to purchase machinery and equipment for Finnish woodworking industries (1368375).
Event
10
Title
Electric Power and Industrial and Agriculture Timber Equipment Projects: First Administration Report
Image
Electric Power and Industrial and Agriculture Timber Equipment Projects: First Administration Report
Description
Document date: June 28, 1950
The report examines the loans' disbursement, end use, and service.
Event
10
Title
International Bank Notes, Vol. 3, No. 21
Image
International Bank Notes, Vol. 3, No. 21
Description
Document date: Nov. 1, 1949
An article on the timber projects entitled “Bank Grants Loans to Finland and Yugoslavia” is on pages 1 and 3.
Event
10
Title
Timber Equipment Project: President's Report
Image
Timber Equipment Project: President's Report
Description
Document date: July 22, 1949
The report describes the loan, appraises it, ensures that the loan is in compliance with the Articles of Agreement, and recommends that the loan be granted.
Event
10
Title
Transcript of the 195th Meeting of Executive Directors
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Transcript of the 195th Meeting of Executive Directors
Description
Document date: Oct. 13, 1949
Board discussion on the timber loans is on pages 2199 - 2212.
Event
10
Title
Interview with Leonard Rist
Image
Interview with Leonard Rist
Description
Interview date: July 19, 1961
On page 56 of the transcript, Rist briefly discusses lending funds to reestablish the timber industry in Finland.
Event
10
Title
Interview with Martin Rosen
Image
Interview with Martin Rosen
Description
Interview date: July 12, 1961
On page 17 of the transcript, Rosen discusses timber loans in general.
Event
10
Title
Interview with Orvis Schmidt
Image
Interview with Orvis Schmidt
Description
Interview date: July 10, 1961
On pages 11-13 of the transcript, Schmidt discusses timber loans in general, citing Finland, Yugoslavia, and Austria.
Event
10
Title
Interview with Davidson Sommers
Image
Interview with Davidson Sommers
Description
Interview date: August 2, 1961
On pages 20-21 of the transcript, Sommers discusses the complex nature of timber loans made to Finland and Yugoslavia.
Event
10
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