The World Bank attempted to initiate investment in Africa through collaboration with European colonial powers.
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.
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.
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.
The report contains a pre- and post-1940 survey of British colonial development policy.
The report offers a description of the monetary mechanism of the French overseas dependencies together with their foreign trade position.
The press release lists the challenges to the Bank's negotiations with the CDC (1868974).
On pages 4-5 and 10 of the transcript, King discussess research on the creditworthiness of the colonies in relation to their forthcoming independence.