Miscellaneous - This Day That Age   

dated July 13, 1959: World Bank loans

The World Bank will grant India two loans totalling 60 million dollars informed sources said in Washington on July 12. One credit of 50 million dollars will be to aid railway development and the second, for 10 million dollars, will go to the Industrial Credit and Investment Corporation of India. This will bring to 85 million dollars the total assistance advanced by the World Bank during the first six months of the current Indian fiscal year and help India to meet part of its foreign exchange requirements under the Second Five-Year Plan.

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