The sixth loan is part of a joint operation with the American investment market and the European Investment Bank.
The $20 million sixth loan to Cassa for the development of southern Italy is the first Bank loan to be made as part of a joint operation with the investment market in the United States ($30 million bond issue) and the European Investment Bank ($20 million equivalent). The loan will assist in the ongoing financing of a program for the economic development of southern Italy. It will entail three specific projects: a new thermoelectric project (MERCURE); and two new petro-chemical plants (SINCAT and CELENE).
The profile contains project and financial information and lists of project documents and archival records.
Jan. 23, 1959
The Bank staff plans a joint mission to Italy with the European Investment Bank with a focus on the electric power and industrial projects (1854233).
April 22, 1959
Cassa per il Mezzogiorno borrows $70 million in a combined operation consisting of issues of $30 million of bonds in the New York investment market, and loans equivalent to $20 million each from the European Investment Bank and the World Bank (1854235).
The report describes and appraises the project.