Date
Timeline Description

This loan is a $3.5 million supplemental loan in Swedish kroner to the $20 million wood products project approved in April 1952.

Detail Description

This supplemental loan to the wood products industry will add additional finance to the Power, Woodworking and Agricultural Project approved in April 1952. The wood products industry will benefit from the Bank loan of Swedish kroner 18 million ($3.5 million equivalent). The loan is financed through the Swedish government's release of part of its paid-in subscription to the capital of the Bank. The proceeds will finance imports of equipment from Sweden.

Image Timeline
The Tomlinson recovery boiler plant under construction (1721461; Credit: The World Bank); correspondence from J. O. Soderhjelm to Alexander Stevenson (1368377).
Image Timeline Caption

The Tomlinson recovery boiler plant under construction (1721461; Credit: The World Bank); correspondence from J. O. Soderhjelm to Alexander Stevenson (1368377).

Resource
Title
Industry Project
Description
P037368: Approved Oct. 12, 1952
The profile contains project and financial information and lists of project documents and archival records.
Image
Industry Project
Event
17
Title
Correspondence from Robert Garner to Mats Lemne
Image
Correspondence from Robert Garner to Mats Lemne
Description

Feb. 1, 1952
World Bank Vice President Robert Garner requests that Mats Lemne of Sveriges Riksbank authorize the use of Swedish Kronor for the proposed loan for woodworking industries and electric power projects in Finland (1368377).

Event
17
Title
Correspondence from J. O. Soderhjelm to Alexander Stevenson
Image
Correspondence from J. O. Soderhjelm to Alexander Stevenson
Description

April 21, 1952
The letter informs the Bank that the list of goods that the Finnish woodworking industry would like to buy from Sweden against a loan in Swedish crowns was presented to the Swedish authorities for consideration (1368377).

Event
17
Title
Press release -- $3.5 million loan to Finland
Image
Press release -- $3.5 million loan to Finland
Description

Nov. 13, 1952
The World Bank makes its first loan in Swedish currency to the Bank of Finland for the modernization and expansion of Finland's wood products industry (1581855).

Event
17
Image
Paper mill machine operator
Title
Paper mill machine operator
Description
1955
A man operating an Andersson log-barking machine in the Kemi Oy Paper Mill in Finland (1721461; Credit: The World Bank).
Event
17
Image
The Tomlinson recovery boiler plant
Title
The Tomlinson recovery boiler plant
Description
1956
The Tomlinson recovery boiler plant under construction at the Joutseno Oy, northeast of Helsinki, Finland. The smokestacks of the power plant can be seen in the background (1721461; Credit: The World Bank).
Event
17
Image
Worker operating log-barking machine
Title
Worker operating log-barking machine
Description
1955
New equipment, like this Anderson log-barking machine in the Kemi Oy plant, increases production in Finland’s forest product industries (1721461; Credit: The World Bank).
Event
17
Title
Power and Woodworking Projects: Appraisal Report
Image
Power and Woodworking Projects: Appraisal Report
Description
Document date: March 7, 1955
Section C of the appraisal report gives a status update on the project as of 1955.
Event
17
Title
Supplemental Loan to the Bank of Finland: President's Report
Image
Supplemental Loan to the Bank of Finland: President's Report
Description
Document date: Oct. 27, 1952
The report describes the loan, appraises it, ensures compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.
Event
17
Learn More
On
Timeline
Search text