K. Speeches by Eugene R. Black (1949-62)

23 items available

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https://hdl.handle.net/10986/31683

Eugene R. Black served as the third President of the World Bank Group form 1949 to 1962.

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Annual Address to the Board of Governors, September 18, 1962
(World Bank, Washington, DC, 1962-09-18) Black, Eugene R.
Eugene R. Black, President of the World Bank, spoke of the record levels for Bank and IDA commitments for economic development projects. More than four-fifths of the amount went to support power and transportation. IDA lent for purposes new to the Bank: municipal water supply, and construction of secondary schools. A new Development Advisory Service operation was created this year. He also discussed IFC’s role in improving the economic growth of the less developed countries via stimulation of private capital markets. He spoke of international trade barriers and terms of trade and their role in the capacity to repay debt. He remarked on the choice between bilateral and multilateral aid, and the influence of politics on development choices. He called for more economic objectivity in aid decisions. He also noted the problem of enlargement of IDA’s resources for the future. He concluded by saying that Bank is showing how an instrument of international cooperation can bring the world's resources to bear on the problems that are of concern to most of mankind--a kind of burning glass that can kindle the fire of hope even in the most remote and forsaken corners of the earth.
Annual Address to the Board of Governors, September 19, 1961
(World Bank, Washington, DC, 1961-09-19) Black, Eugene R.
Eugene R. Black, President of the World Bank, bid farewell to Robert Garner, who presided over the birth of the International Finance Corporation and nursed it through its inevitable growing pains. He then focused on some old and some new problems, and, in particular, the newest member of the World Bank family, the International Development Association. IDA credits will have grace periods, long maturities, and low or no interest or commitment charges. Many IDA recipients have heavy foreign debt service burdens. He concluded by saying that the share of capital should increase that goes to the underdeveloped countries on terms properly geared to their requirements.
Annual Address to the Board of Governors, September 29, 1959
(World Bank, Washington, DC, 1959-09-29) Black, Eugene R.
Eugene R. Black, President of the World Bank, spoke about the growth of lending for reconstruction and development of its member countries. He discussed the 49 successful issues of securities, with the latest bond issue involving investors from eight countries that had not bought before. He spoke about how the Bank had established contacts with industrial development banks, public and private, in a large number of member countries, and through these hundreds of small enterprises were contributing new jobs and new production for a better material life in the underdeveloped world. Black suggested that there is a role for a new entity of private international investors from all countries to champion policies which attract private investment. He also spoke of the proposed establishment of the International Development Association. He warned against import substitution trade policies. He concluded by saying if Bank energy and resources were used rightly, it would reduce the burden of poverty in the world.
Annual Address to the Board of Governors, October 7, 1958
(World Bank, Washington, DC, 1958-10-07) Black, Eugene R.
Eugene R. Black, President of the World Bank, presented the Annual Report of the World Bank, which tells a story of how peoples and governments in many underdeveloped countries are beginning to work out the complicated problems of economic development and beginning to reap the rewards of their efforts. This was a year of more activity than anytime previously. Bank lending amounted to $711 million or over 75 percent more than the average of the previous three years. This marked increase promises to be sustained in the present year. In August, the Bank’s bond issue was oversubscribed, and place entirely outside the United States. The Federal Republic of Germany has played an increasing role as a supplier of development capital. Black urged again for the release of restrictions on the use of member capital subscriptions. The Bank played a role as mediator in the dispute over the Suez Canal. Bank advisory services expanded; resident representatives now work in nine countries. The lack of suitable projects remains the main limitation to expanding operations, but this may soon no longer be the case. Proposals are under review for regional development institutions in Latin America and the Middle East. A weighty responsibility rests on the shoulders of every government that is a recipient of external assistance to create conditions where its capital can be invested wisely and productively.
Annual Address to the Board of Governors, September 23, 1957
(World Bank, Washington, DC, 1957-09-23) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, spoke about the happenings in the Middle East which threatened to bring major economic dislocation and, at times, the world outlook had been bleak. He mentioned about the large amount lent by the Bank and important additions to its capital resources during the fiscal year 1957. He explained two loans for air transport that helped Australia and India to acquire the latest types of aircraft for their air lines. He concluded by saying that the Bank should make, over the years ahead, a continued and significant contribution to the capital requirements of basic development on which higher living standards depend.
Annual Address to the Board of Governors, September 25, 1956
(World Bank, Washington, DC, 1956-09-25) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, mentioned lending done in Asia, which was more than in any other continent. He spoke about the non-lending activities of the Bank which also continued to expand during the year. He discussed the role of International Finance Corporation (IFC) which came into being in July. He concluded by saying that less developed countries hold large part of the key to the future of the world.
Address at the Annual Dinner of the Connecticut Chamber of Commerce
(World Bank, Washington, DC, 1956-05-08) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, spoke about underdeveloped areas of the world and the role of World Bank on those areas. He focused on the role of trade in developed and developing countries and its implications for their economic development. He explained the role of the Bank in encouraging participation of private capital in international investment.
Address before the Twenty-First Session of the Economic and Social Council of United Nations, New York City
(World Bank, Washington, DC, 1956-04-18) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, discussed the newest development in the Bank's technical assistance work, including the International Finance Corporation. He explained the significant progress made by Bank in the postwar decade, and the continued and intensified efforts to accelerate the pace of development.
The World Bank as Lender and Borrower: A Ten-Year Report
(World Bank, Washington, DC, 1956-03-21) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, reviewed the ten years of Bank's operations. He expressed his appreciation for the great assistance which had been rendered by Switzerland to the World Bank in all its operations, including bond sales. He described the role of the International Finance Corporation in encouraging private investment. Operations will begin once 30 member countries subscribe to at least $75 million.
Common Sense and Economic Aid
(World Bank, Washington, DC, 1956-02-18) Black, Eugene R.
Eugene R. Black, President of the International Bank for Reconstruction and Development, spoke about America economic aid to other countries. He described in detail the Bank’s business of economic development. The Bank can help developing countries to make a choice in their own interests. He described a hydroelectric power project in Egypt.