Date
Timeline Description

The loan to the Herstelbank will finance currency requirements of construction and industrial modernization projects.

Detail Description

The Industrial Loan to the Herstelbank, a semi-public Netherlands corporation, will be guaranteed by the Netherlands government. The loan will finance the hard currency requirements of 24 projects for the construction or modernization of ceramic, chemical, pharmaceutical, electrical, paper, textile, and engineering plants owned by Dutch private manufacturing companies. Since the Netherlands has run a sizeable trade deficit with Belgium since the war, the new production will facilitate the establishment of the Benelux Economic Union.

Image Timeline
The Naphta-making process in the Maurits Coke Plant at Beek (1726283; Credit: The World Bank); correspondence from the Dutch Minister of Justice to the World Bank (1698012).
Image Timeline Caption

The Naphta-making process in the Maurits Coke Plant at Beek (1726283; Credit: The World Bank); correspondence from the Dutch Minister of Justice to the World Bank (1698012).

Resource
Title
Chemical Textile Project
Description
P037457: Approved July 26, 1949
The profile contains project and financial information and lists of project documents and archival records.
Image
Chemical Textile Project
Event
14
Title
Correspondence from the Dutch Minister of Justice to the World Bank
Image
Correspondence from the Dutch Minister of Justice to the World Bank
Description
Aug. 22, 1947
The letter accompanies a copy of the Dutch law that ratifies the loan agreement with the World Bank (1698012)
Event
14
Title
Summary of Staff Loan Committee meeting
Image
Summary of Staff Loan Committee meeting
Description
Aug. 18, 1948
The Staff Loan Committee discusses the arguments against and in favor of further Bank loans to the Netherlands (1698012).
Event
14
Title
Report titled "Problems Affecting the Herstelbank Application"
Image
Report titled "Problems Affecting the Herstelbank Application"
Description
Feb. 18, 1949
The paper summarizes events affecting the Herstelbank loan application and recommends a detailed study of the Netherlands balance of payments prospects (1698012).
Event
14
Image
Detail of Benzene Plant
Title
Detail of Benzene Plant
Description
1955
The Benzene Plant is located at Staatamijnen at Book in the Netherlands (1726283; Credit: The World Bank).
Event
14
Image
Workers in the Maurits Coke Plant
Title
Workers in the Maurits Coke Plant
Description
1957
The Naphta-making process in the Maurits Coke Plant at Beek in the Netherlands (1726283; Credit: The World Bank).
Event
14
Title
Industrial Project: President's Report
Image
Industrial Project: President's Report
Description
Document date: July 22, 1949
The report describes the loan, appraises it, ensures that it is in compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.
Event
14
Title
Loan Administration Report on Early Dutch Loans
Image
Loan Administration Report on Early Dutch Loans
Description
Document date: Dec. 20, 1950
The report examines the loans' disbursement, end use, and service.  It considers the Netherlands economic position, prospects, challenges, and relationship with the Bank.   
Event
14
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