BIG LOAN FOR INDIA FROM WORLD BANK
(Rec. 10.50). NEW YORK, Aug. 19. The World Bank to-day granted a thirty-four million dollar loan to India. This loan is for lifteen years, with one per cent, commission, and three per cent, interest. It will be used for rehabilitation, and the development of State railways. Mr Eugene Black, President of the Bank, in announcing the loan, said that it was hoped in the near future to make additional loans to India, bringing the total to seventy-five million dollars. He said there had been no discussion with other members of the British Commonwealth on the possibilities of loans. ■
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Grey River Argus, 20 August 1949, Page 5
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105BIG LOAN FOR INDIA FROM WORLD BANK Grey River Argus, 20 August 1949, Page 5
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