Annual Address to the Board of Governors, October 7, 1958

Eugene R. Black, President of the World Bank, presented the Annual Report of the World Bank, which tells a story of how peoples and governments in many underdeveloped countries are beginning to work out the complicated problems of economic development and beginning to reap the rewards of their effor...

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Main Author:	Black, Eugene R.
Format:	Speech
Language:	English
Published:	World Bank, Washington, DC 2019
Subjects:	ECONOMIC DEVELOPMENT WORLD BANK LENDING BOND ISSUE CAPITAL SUBSCRIPTIONS ADVISORY SERVICES REGIONAL DEVELOPMENT INSTITUTIONS CAPITAL INVESTMENT
Online Access:	http://documents.worldbank.org/curated/en/969971524809460108/Annual-meeting-of-the-Board-of-Governors-address-by-Eugene-R-Black-President-of-the-Bank http://hdl.handle.net/10986/31779

id	okr-10986-31779
recordtype	oai_dc
spelling	okr-10986-317792021-04-23T14:04:54Z Annual Address to the Board of Governors, October 7, 1958 Black, Eugene R. ECONOMIC DEVELOPMENT WORLD BANK LENDING BOND ISSUE CAPITAL SUBSCRIPTIONS ADVISORY SERVICES REGIONAL DEVELOPMENT INSTITUTIONS CAPITAL INVESTMENT Eugene R. Black, President of the World Bank, presented the Annual Report of the World Bank, which tells a story of how peoples and governments in many underdeveloped countries are beginning to work out the complicated problems of economic development and beginning to reap the rewards of their efforts. This was a year of more activity than anytime previously. Bank lending amounted to $711 million or over 75 percent more than the average of the previous three years. This marked increase promises to be sustained in the present year. In August, the Bank’s bond issue was oversubscribed, and place entirely outside the United States. The Federal Republic of Germany has played an increasing role as a supplier of development capital. Black urged again for the release of restrictions on the use of member capital subscriptions. The Bank played a role as mediator in the dispute over the Suez Canal. Bank advisory services expanded; resident representatives now work in nine countries. The lack of suitable projects remains the main limitation to expanding operations, but this may soon no longer be the case. Proposals are under review for regional development institutions in Latin America and the Middle East. A weighty responsibility rests on the shoulders of every government that is a recipient of external assistance to create conditions where its capital can be invested wisely and productively. 2019-06-04T19:05:59Z 2019-06-04T19:05:59Z 1958-10-07 Speech http://documents.worldbank.org/curated/en/969971524809460108/Annual-meeting-of-the-Board-of-Governors-address-by-Eugene-R-Black-President-of-the-Bank http://hdl.handle.net/10986/31779 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: President's Speech
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC DEVELOPMENT WORLD BANK LENDING BOND ISSUE CAPITAL SUBSCRIPTIONS ADVISORY SERVICES REGIONAL DEVELOPMENT INSTITUTIONS CAPITAL INVESTMENT
spellingShingle	ECONOMIC DEVELOPMENT WORLD BANK LENDING BOND ISSUE CAPITAL SUBSCRIPTIONS ADVISORY SERVICES REGIONAL DEVELOPMENT INSTITUTIONS CAPITAL INVESTMENT Black, Eugene R. Annual Address to the Board of Governors, October 7, 1958
description	Eugene R. Black, President of the World Bank, presented the Annual Report of the World Bank, which tells a story of how peoples and governments in many underdeveloped countries are beginning to work out the complicated problems of economic development and beginning to reap the rewards of their efforts. This was a year of more activity than anytime previously. Bank lending amounted to $711 million or over 75 percent more than the average of the previous three years. This marked increase promises to be sustained in the present year. In August, the Bank’s bond issue was oversubscribed, and place entirely outside the United States. The Federal Republic of Germany has played an increasing role as a supplier of development capital. Black urged again for the release of restrictions on the use of member capital subscriptions. The Bank played a role as mediator in the dispute over the Suez Canal. Bank advisory services expanded; resident representatives now work in nine countries. The lack of suitable projects remains the main limitation to expanding operations, but this may soon no longer be the case. Proposals are under review for regional development institutions in Latin America and the Middle East. A weighty responsibility rests on the shoulders of every government that is a recipient of external assistance to create conditions where its capital can be invested wisely and productively.
format	Speech
author	Black, Eugene R.
author_facet	Black, Eugene R.
author_sort	Black, Eugene R.
title	Annual Address to the Board of Governors, October 7, 1958
title_short	Annual Address to the Board of Governors, October 7, 1958
title_full	Annual Address to the Board of Governors, October 7, 1958
title_fullStr	Annual Address to the Board of Governors, October 7, 1958
title_full_unstemmed	Annual Address to the Board of Governors, October 7, 1958
title_sort	annual address to the board of governors, october 7, 1958
publisher	World Bank, Washington, DC
publishDate	2019
url	http://documents.worldbank.org/curated/en/969971524809460108/Annual-meeting-of-the-Board-of-Governors-address-by-Eugene-R-Black-President-of-the-Bank http://hdl.handle.net/10986/31779
_version_	1764470314638508032

Annual Address to the Board of Governors, October 7, 1958

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