Publication: Address Presenting the Seventh Annual Report
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1952-09-05
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2019-05-21
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Eugene R. Black, President of the International Bank for Reconstruction and Development, described the lending approach of the Bank to various countries in the World. He discussed the proposed International Finance Corporation as a useful instrument for stimulating investment of private capital, both domestic and foreign, in enterprises significant in economic development. He spoke about sending general survey missions, composed of impartial experts, to help countries assess their potentialities and to draw up broad programs which will best channel their own energies and resources into development. He discussed development of water resources of the Indus River. He commented on the Schuman Plan for coal and steel in Europe. He concluded by saying that Bank has a vital role to play in development.
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“Black, Eugene R.. 1952. Address Presenting the Seventh Annual Report. Meeting of the Board of Governors, September 5, 1952;. © World Bank. http://hdl.handle.net/10986/31739 License: CC BY 3.0 IGO.”
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Publication Address Presenting the Sixth Annual Report(World Bank, Washington, DC, 1951-09-10)Eugene R. Black, President of the International Bank for Reconstruction and Development, spoke about the substantial growth of Bank activities, totaling 21 loans extended to 11 different countries in fiscal year 1951. Technical assistance for preparation and execution of loan projects is increasingly significant to Bank lending operations. He reported on completion of economic survey missions to Turkey, Guatemala, Cuba, and Uruguay and progress with five others. He noted that the Bank broadened its base in the private capital markets which provide the bulk of the loan funds, including public offerings of bonds in the United Kingdom and Switzerland. The Bank expects to issue bonds in the American market more regularly. He warned against overlending to countries that are not ready to put the capital to work. 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He discussed the most constructive contributions the Bank can make to the progress of development, especially in the least advanced countries, is to help make available to them the experience of other nations. He closed on a note that the Bank can start on the way towards equilibrium, it may find the effects of returning confidence highly cumulative and the difficulties dispelled more quickly than they dared hope.Publication IFC Annual Report 2006 : Increasing Impact, Volume 1(Washington, DC, 2006)The International Finance Corporation (IFC), in its 50th year, is the largest provider of multilateral financing for private sector projects in the developing world. In fiscal 2006, it committed $6.7 billion in funds from its own account and mobilized an additional $1.6 billion through syndications and $1.3 billion through structured finance. Based on the total costs of the private sector projects it helped finance this year, each $1 in IFC commitments for its own account resulted in an additional $2.88 in funding from other sources. Altogether, IFC supported 284 investment projects in 66 countries. This year nearly a quarter of IFC commitments were in low-income or high-risk countries, demonstrating the viability of private enterprise even in difficult environments. IFC's investment commitments to firms operating in the Middle East and North Africa more than doubled in fiscal 2006, and commitments for private sector projects in Sub-Saharan Africa increased nearly 60 percent. IFC introduced a new development outcome tracking system for investment operations to measure and track results throughout the life of a project; a similar system was implemented to monitor the development impact of all active technical assistance and advisory projects.
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