Date
Timeline Description

The loan will provide foreign exchange to enable Norway to pay for ships ordered in foreign shipyards.

Detail Description

The Norwegian economy is passing through a period of adjustment and the government is taking steps to adapt the economy to the new circumstances. The Import of Capital Equipment Project will assist in financing a program to maintain productive investment. Specifically, the loan will provide foreign exchange to enable Norway to pay for ships ordered in foreign shipyards.

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Memo from the Department of Operations containing details of the proposed second loan (1705801).
Image Timeline Caption

Memo from the Department of Operations containing details of the proposed second loan (1705801).

Resource
Title
General Development Project
Description
P037467: Approved April 18, 1955
The profile contains project and financial information and lists of project documents and archival records.
Image
General Development Project
Event
24
Title
Memo on a proposed loan to Norway
Image
Memo on a proposed loan to Norway
Description
March 31, 1955
The memo provides preliminary details of a proposed second Bank loan to Norway and a simultaneous public offering of Norwegian government bonds in the US market (1705801).
Event
24
Title
Memo from the Department of Operations
Image
Memo from the Department of Operations
Description
Oct. 26, 1954
The memo contains details of the proposed second loan to Norway including background, disbursement procedure, and information on a related dispute with French bondholders (1705801).
Event
24
Image
Loan agreement signing
Title
Loan agreement signing
Description
c.1955
President Black and Vice President Garmer sign loan agreement documents with Norwegian delegates (1726694; Credit: New York Herald Tribune).
Event
24
Title
Current Economic Position and Prospects
Image
Current Economic Position and Prospects
Description
Document date: March 31, 1955
The report reviews the economic position and prospects of Norway.
Event
24
Title
Import of Capital Equipment Project: President's Report
Image
Import of Capital Equipment Project: President's Report
Description
Document date: April 7, 1955
The report describes and appraises the proposed loan and recommends that it be granted.
Event
24
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