Date
Timeline Description

The Bank’s first funding for Iceland's agricultural sector will aid in the increase of agricultural production in a variety of ways.

Detail Description

The Agriculture Project for Iceland will assist in financing a plan for the development of agriculture and improvements on individual farms. The project will aid in the increase of agricultural production by: purchasing cement, steel, timber, and other building materials for construction; constructing farm buildings, such as dairy barns, sheep sheds, horse stables, hay barns, silos, and machine sheds; erecting new farm houses and improving existing ones; and draining, plowing, reseeding, and fencing grasslands. These improvements will help to increase the output of animal products and boost Iceland's balance of payments.

Image Timeline
Signing of the Iceland Agriculture Project by H. E. Thor Thors, Icelandic Minister in the United States, and Bank President Black (1722315; Credit: The World Bank).
Image Timeline Caption

Signing of the Iceland Agriculture Project by H. E. Thor Thors, Icelandic Minister in the United States, and Bank President Black (1722315; Credit: The World Bank).

Resource
Title
Agriculture Project
Description
P037385: Approved Oct. 31, 1951
The profile contains project and financial information and lists of project documents and archival records.
Image
Agriculture Project
Event
13
Image
Signing of the Iceland Agriculture Project
Title
Signing of the Iceland Agriculture Project
Description
1951
Signing the loan documents are H. E. Thor Thors, Icelandic Minister in the United States, and Eugene R. Black, President of the Bank (1722315; Credit: The World Bank).
Event
13
Title
Correspondence from Eysteinn Jonsson to President Black
Image
Correspondence from Eysteinn Jonsson to President Black
Description
July 11, 1951
Eysteinn Jonsson, Iceland Minister of Fiannce, discusses the agriculture sector loan, mentioning Mr. Kephart's study of agricultural development of Iceland (1361744).
Event
13
Title
Correspondence from N. J. Patersen to the Working Party
Image
Correspondence from N. J. Patersen to the Working Party
Description
Oct. 24, 1951
Patersen sets out a list of steps taken or to be taken in connection with the proposed agricultural loan to Iceland (1361744).
Event
13
Title
Agriculture Project: President's Report
Image
Agriculture Project: President's Report
Description
Document date: Oct. 22, 1951
The report describes the loan, appraises it, ensures that the loan is in compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.
Event
13
Title
An Investment Program for Iceland 
Image
An Investment Program for Iceland 
Description
Document date: June 11, 1951
The report contains a survey of Iceland's economic position, prospects for development, and major lines of future investment.
Event
13
Title
Hydro-Electric, Agriculture and Fertilizer Plant Projects: First Administration Report
Image
Hydro-Electric, Agriculture and Fertilizer Plant Projects: First Administration Report
Description
Document date: Aug. 26, 1953
The report examines the loans' disbursement, end use, and service.
Event
13
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