The Bank has signed its first loan, the equivalent in various currencies of 21 million dollars, in the Philippines. The borrower is the National Power Corporation and the funds will be used for the Binga hydroelectric project in the island of Luzon.
Details
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Document Date
1957/11/23
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Document Type
Announcement
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Report Number
149133
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2020/06/04
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Disclosure Status
Disclosed
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Doc Name
Announcement of World Bank Makes First Loan in Philippines on November 23, 1957
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Keywords
demand for electricity; local expenditure; foreign exchange; project plan; hydroelectric potential; new plant; metropolitan area; transmission line; industrial plant; hydroelectric development; installed capacity; press release; first loan; amortization payment; bond; reservoir; dam; water; consumption
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Citation
Announcement of World Bank Makes First Loan in Philippines on November 23, 1957 (English). Press Release,no. 1957-514 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/238101591256871759/Announcement-of-World-Bank-Makes-First-Loan-in-Philippines-on-November-23-1957