Miscellaneous - This Day That Age   

dated September 9, 1958: World Bank loan

Mr. Morarji Desai, the Indian Finance Minister, called on Mr. Eugene Black, President of the World Bank, at his Washington home on September 7, to discuss proposed loans to India to help her tide over the balance of payments difficulties. A World Bank spokesman said he assumed the main subject of discussion was the 350-million dollar aid plan agreed upon at a conference of India’s leading creditors in Washington last month. The money, to be lent by the World Bank, the United States, Britain, West Germany, Japan and Canada, is to meet India’s essential foreign exchange needs during the next seven months until March 31, 1959, the end of India’s financial year. The World Bank’s contribution during this period is expected to come close to 100 million dollars.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Cartoonscape
The Hindu Crossword 9323
Solution to Puzzle 9322
Value of self effort religion
dated September 9, 1958: World Bank loan
dated September 9, 1958: Food position in Madras
dated September 9, 1958: Racial clashes in Britain
dated September 9, 1958: Metric system
Weather

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu