It is often forgotten today that in the aftermath of the Second World War the Bank undertook a considerable lending program in what are now very prosperous countries in Western Europe. In this excerpted article, which appeared in the March 1954 issue of “International Bank Notes,” Bank staff member Victor Umbricht gives us a snapshot of Austria during the period when it was a borrower from the Bank. One forgets quickly how serious the Austrian situation...
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Early Mission to Austria (English). World Bank Group Archives exhibit series|no. 033 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/801601467739986116