Date
Timeline Description

The manufacture of chemical pulp and newsprint in Finland is assisted by this loan of $37 million to help nine companies modernize their plants and increase their output.

Detail Description

Finland is Europe’s largest exporter of newsprint, kraft paper and board, with wood products accounting for 80% of the country’s export earnings. The Woodworking Project for Finland will finance the uncovered capital needs of nine projects of the Finnish woodworking industry. Half of the loan will assist three companies in the expansion of their capacity to produce sulphate pulp. Another third will assist three other companies in the expansion of their newsprint capacity. The remainder will help three additional companies to rationalize their steam and power facilities and to increase their capacity to produce dissolving and high-grade paper pulp.

Image Timeline
A welder works on the installation of boiler tubes at the Kemi Oy project (1721468; Credit: The World Bank).
Image Timeline Caption

A welder works on the installation of boiler tubes at the Kemi Oy project (1721468; Credit: The World Bank).

Resource
Title
Pulp and Paper Project
Description
P037371: Approved March 13, 1959
The profile contains project and financial information and lists of project documents and archival records.
Image
Pulp and Paper Project
Event
39
Title
Correspondence from Klaus Waris to S. R. Cope
Image
Correspondence from Klaus Waris to S. R. Cope
Description

March 24, 1959
Governor of Finland Bank Klaus Waris thanks the World Bank and Mr. Cope in particular for successful loan negotiations and notes says that the loan will help re-establish sound economic growth in Finland (1581997).

Event
39
Title
Press release -- $37 million loan in Finland
Image
Press release -- $37 million loan in Finland
Description

March 16, 1959
The World Bank approves a loan to provide capital to nine private companies in Finland's pulp and paper industry for expansion and modernization of their plants (1581997).

Event
39
Image
Installation of boiler tubes
Title
Installation of boiler tubes
Description

c.1959
A welder works on the installation of boiler tubes at the Kemi Oy project at Kemi in northern Finland (1721468; The World Bank).

Event
39
Image
Workers in sulphite mill
Title
Workers in sulphite mill
Description

c.1959
A view of the burners for sulphite waste liquor in the Kymmene sulphite mill on the banks of the Kymmene River (1721468; The World Bank).

Event
39
Title
Woodworking Project: Appraisal Report
Image
Woodworking Project: Appraisal Report
Description
Document date: Dec. 29, 1958
The report describes and appraises the project.
Event
39
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