The loan of $7 million to Koninklijke Luchtvaart Maatschappij N. V. (KLM) will finance the purchase of new aircraft.
Dutch airline KLM is the world’s oldest airline, established in 1919. This $7 million loan will finance part of a program for modernizing and increasing the capacity of KLM’s fleet of aircraft. It will involve the acquisition from suppliers in the United States of twenty-three aircraft, with the necessary spare parts.
The profile contains project and financial information and lists of project documents and archival records.
In this letter the Netherlands' Minister of Transport and Waterstaad approves of KLM contracting a loan in the amount of $7 million dollars from the World Bank (1698022).
The committee approves documents and agrees on an interest rate of 4-1/8% for the proposed Bank loan to KLM (1698022).
The memo reports that loan negotiations have progressed smoothly and provides a list of issues that arose over the course of discussions (1698022).
Goods being unloaded from a KLM Royal Dutch Airlines freighter (1726288; Credit: The World Bank).
A KLM Royal Dutch Airlines plane is unloaded (1726288; Credit: The World Bank).
The memo offers the comments of engineering staff concerning the technical and business aspects of the project.
On page 28 of the transcript, Broches briefly refers to the airline loan.