FINANCIAL AID

Press, Volume C, Issue 29624, 21 September 1961, Page 7

FINANCIAL AID

Development Projects

(N.Z.P.A .-Reuter—Copyright) WASHINGTON, Sept. 19

The World Bank and its new affiliate, the International Development Association reported yesterday that their commitments in the last 12 months totalled 711 million dollars in loans or credits for development projects in 21 countries. The two international lending institutions issued a summary of activities in reports submitted to the annual meetings of their Board of Governors in Vienna. The World Bank, which now has completed 15 years of operations, saw its activities as part of a ‘‘broadening stream” of financial and technical assistance to underdeveloped nations. Its annual report recorded 27 loans totalling 610 million dollars during the year. Transportation loans accounted for 311 million dollars.

Loans were made for railways in Burma. Colombia. India, Japan and Thailand, for road improvements in Argentina. Chile, Mexico, Panama and Peru, and for a new pert in Israel. Loans ‘ for. electric power development, amounting to 125 million dollars, were made to Uganda. Ceylon. Japan, Colombia. Costa Rica, El Salvador, Norway, and Jugoslavia. The bank estimated that these loans would help to add more than one»million kilowatts of capacity in the countries concerned. Leans for agriculture totalled 126 million dollars. Ninety million dollars was made available to Pakistan as the World Bank's share in financing projects' under the settlement of Pakistan’s dispute with India over use of the Indus River waters. Loans also were made for agricultural credit in British Guiana and irrigation projects in Mexico and thej Sudan.