Date
Timeline Description

Of the $1.56 billion in loans approved by the Bank in its first seven years, $826 million had been approved for non-European countries while $734 had been approved for European countries.

Detail Description

At the end of fiscal year 1952-53, the Bank's commitments to non-European countries exceed investments in Europe for the first time; of the $1.56 billion in loans approved by the Bank in its first seven years, $826 million had been approved for non-European countries while $734 had been approved for European countries. In reality, the Bank's attention had turned to non-European countries much earlier, as $497 million of the $734 million in European loans were in the form of reconstruction loans approved in May-August 1947. Of the $178.6 million in commitments approved by the Bank in fiscal year 1952-53, the Bank approved just less than $35 million to European countries.

Image Timeline
Detail from the World Bank Annual Report 1952-1953.
Image Timeline Caption

Detail from the World Bank Annual Report 1952-1953.

Resource
Title
World Bank Annual Report 1952-1953
Image
World Bank Annual Report 1952-1953
Description
Document date: June 30, 1953
A breakdown of Bank loans classified by purpose and area is included on page 15.
Event
84
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