Publication: Address before the Annual Convention of the Savings Banks Association of the State of New York
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1949-10-23
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1949-10-23
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Eugene R. Black, President of the International Bank for Reconstruction and Development, spoke about how the Bank conducts business by describing one loan application for India and the events leading to a signed contract and then follow-up monitoring. The whole economic and financial position of India was analyzed as accurately as possible before the departure of a mission to investigate conditions on the spot. The partition of India and Pakistan affected the Indian economy. Pakistan’s import tariff on raw jute from India weakened the position of India. He described various economic challenges being faced. The loans to India are not without risk, but they are a risk worthwhile taking.
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“Black, Eugene R.. 1949. Address before the Annual Convention of the Savings Banks Association of the State of New York. Aboard the Nieuw Amsterdam, October 23, 1949;. © World Bank. http://hdl.handle.net/10986/31727 License: CC BY 3.0 IGO.”
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