This loan is a $3.5 million supplemental loan in Swedish kroner to the $20 million wood products project approved in April 1952.
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.
The profile contains project and financial information and lists of project documents and archival records.
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).
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).
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).
A man operating an Andersson log-barking machine in the Kemi Oy Paper Mill in Finland (1721461; Credit: The World Bank).
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).
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).
Section C of the appraisal report gives a status update on the project as of 1955.
The report describes the loan, appraises it, ensures compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.