Date
Timeline Description

Shortly after Spain becomes a member of the Bank, a Bank mission will visit Madrid to determine how it can assist with the country's economic development.

Detail Description

In October, 1958, shortly after Spain becomes a member of the Bank, a Bank mission will visit Madrid to engage with the Spanish government and determine how the Bank can assist with the country's economic development. The mission's team will report on the general structure of the economy, the country's current financial and economic position, and the obstacles that could hinder development. The mission will recommend that Spain begin a stabilization program and that the Bank assist with the preparation of the program by sending a second economic mission that would assess Spain's creditworthiness and explore what economic sectors would benefit most from the Bank's investment.

Image Timeline
Correspondence from Jaime Alba to President Black (1740826).
Image Timeline Caption

Correspondence from Jaime Alba to President Black (1740826).

Resource
Title
IBRD Board of Governors Resolution, No. 122
Image
IBRD Board of Governors Resolution, No. 122
Description
Document date: May 12, 1958
The resolution sets out the terms and conditions for Spain joining the Bank.
Event
93
Title
Report of Mission to Spain
Image
Report of Mission to Spain
Description
Document date: Dec. 15, 1958
The report contains a general analysis of the country's economy.
Event
93
Title
Correspondence from President Black to Ambassador Jose M. de Areilza
Image
Correspondence from President Black to Ambassador Jose M. de Areilza
Description

May 19, 1958
The letter to the Spanish Ambassador discusses Spain joining the World Bank and the IMF and prospects for an economic survey mission to the country (1740826).

Event
93
Title
Correspondence from Ambassador Jose M. de Areilza to President Black
Image
Correspondence from Ambassador Jose M. de Areilza to President Black
Description

April 25, 1958
The Spanish Ambassador discusses the possibility of Bank/Fund exploratory and economic survey missions to Spain (1740826).

Event
93
Title
Correspondence from Jaime Alba to President Black
Image
Correspondence from Jaime Alba to President Black
Description

Sept. 19, 1958
The Charge d'Affaires expresses appreciation to the Bank for the Bank's upcoming mission to Spain (1740826).

Event
93
Title
Interview with Andrew Kamarck
Image
Interview with Andrew Kamarck
Description
Interview date: Nov. 2, 1985
On page 21-22 of the transcript, Kamarck relates the history of Spain joining the World Bank.
Event
93
Title
Interview with Benjamin B. King
Image
Interview with Benjamin B. King
Description
Interview date: July 24 and July 26, 1985
On page 27, King briefly describes a Bank mission to Spain.
Event
93
Image
Signing of first loan for Spain
Title
Signing of first loan for Spain
Description
c. October 1963
The World Bank's first loan to Spain was for a Highway Improvement Project (1727983; Credit: The World Bank).
Event
93
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