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Annual Address to the Board of Governors, September 29, 1959 / Eugene R Black.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Black, Eugene R.
- Series:
- Speeches of World Bank Presidents.
- World Bank e-Library.
- Speeches of World Bank Presidents
- Language:
- English
- Subjects (All):
- International Development Association.
- Investment Climate.
- Private Investment.
- Local Subjects:
- International Development Association.
- Investment Climate.
- Private Investment.
- Place of Publication:
- Washington, D.C. : The World Bank, 1959.
- System Details:
- data file
- Summary:
- Eugene R. Black, President of the World Bank, spoke about the growth of lending for reconstruction and development of its member countries. He discussed the 49 successful issues of securities, with the latest bond issue involving investors from eight countries that had not bought before. He spoke about how the Bank had established contacts with industrial development banks, public and private, in a large number of member countries, and through these hundreds of small enterprises were contributing new jobs and new production for a better material life in the underdeveloped world. Black suggested that there is a role for a new entity of private international investors from all countries to champion policies which attract private investment. He also spoke of the proposed establishment of the International Development Association. He warned against import substitution trade policies. He concluded by saying if Bank energy and resources were used rightly, it would reduce the burden of poverty in the world.
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