INTERNATIONAL BANK POSITION
NOT PART OF RECOVERY PROGRAMME
LOANS FOR COLONIAL DEVELOPMENT
London, July 2.
Officials of the International Bank have had preliminary talks with the Governments of Britain, France and other European countries, aboul the possibility of loans from the bank for Colonial development. This was stated today by the American vice-president of the bank at a London news conference.
He said the bank had no legal connection with the European Recovery Programme, although it might provide some of the means for long-term capital schemes. He said that the work of the bank is not political. It must be carried on on a commercial basis. It could only make loans where there was a reasonable chance of their being paid back.
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Bibliographic details
Bay of Plenty Times, Volume LXXVI, Issue 14713, 3 July 1948, Page 3
Word Count
122INTERNATIONAL BANK POSITION Bay of Plenty Times, Volume LXXVI, Issue 14713, 3 July 1948, Page 3
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