Date
Timeline Description

The World Bank attempted to initiate investment in Africa through collaboration with European colonial powers.

Detail Description

Beginning in 1948, the World Bank attempted to initiate investment in Africa by encouraging the United Kingdom, France, Belgium, and Portugal (the principal colonial powers in Africa) to collaborate in the continent's development through projects designed to service more than one territory, such as roads or ports construction. After a protracted period of negotiations, a loan was proposed but never came to fruition due to disagreements between the U.K.'s Colonial Development Corporation (CDC) and the World Bank over certain requirements put forth by the Bank. The failure of this negotiation soured relations between the Bank and the United Kingdom for several years.

Image Timeline
Press Release regarding negotiations with the Colonial Development Corporation (1868974).
Image Timeline Caption

Press Release regarding negotiations with the Colonial Development Corporation (1868974).

Resource
Title
British Development Proposals for the Middle East
Image
British Development Proposals for the Middle East
Description
Document date: Dec. 20, 1949
The report provides a summary of and comments on a meeting between the Bank and the U.K. on possible projects in the Middle East.
Event
73
Title
Preliminary Economic Report on the U.K. Colonial Development Corporation's Loan Proposal
Image
Preliminary Economic Report on the U.K. Colonial Development Corporation's Loan Proposal
Description
Document date: Jan. 8, 1949
The report includes four studies that throw light on the basic economic factors which the Bank must examine in considering the recent U.K. colonial loan proposal.
Event
73
Title
Survey of British Colonial Development Policy
Image
Survey of British Colonial Development Policy
Description
Document date: Nov. 9, 1949
The report contains a pre- and post-1940 survey of British colonial development policy.
Event
73
Title
The Currency System and Foreign Trade Pattern of the French Dependencies
Image
The Currency System and Foreign Trade Pattern of the French Dependencies
Description
Document date: March 10, 1949
The report offers a description of the monetary mechanism of the French overseas dependencies together with their foreign trade position.
Event
73
Title
Press Release -- Negotiations with the Colonial Development Corporation
Image
Press Release -- Negotiations with the Colonial Development Corporation
Description
Dec. 30, 1949
The press release lists the challenges to the Bank's negotiations with the CDC (1868974).
Event
73
Title
Interview with Benjamin B. King
Image
Interview with Benjamin B. King
Description
Interview date: July 24 and 25, 1986
On pages 4-5 and 10 of the transcript, King discussess research on the creditworthiness of the colonies in relation to their forthcoming independence.
Event
73
Learn More
On
Timeline
Search text