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Forty-eight nations were represented at the fourth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development, which was held in Washington from September 13 to 16, 1949. Maurice Petsche, Minister of Finance of France and Chairman of the Board of Governors of the Bank, acted as chairman and as co-chairman at the joint sessions with the International Monetary Fund.

Like the International Monetary Fund, the International Bank for Reconstruction and Development devoted most of its first year of existence to the creation of a working organization, postponing its program of making loans to facilitate the reconstruction and development of productive capacity in many nations.

Between July 1,1951 and March 31,1952,1 the International Bank for Reconstruction and Development made fourteen loans totalling $212,658,000, bringing total loan commitments as of March 31, 1952 to $1,326,183,000. Through this period, the Bank continued to advise member governments in the preparation and execution of specific development programs and of general programs for economic development in member countries and their territories.

On April 29, 1949 the International Bank for Reconstruction and Development announced the results of its operations for the nine-month period ending March 31, 1949. Net income amounted to $7,383,006 as compared with $2,242,597 for the first nine months of the preceding fiscal year. The Bank's income was $15,611,704 plus $3,701,468 of the special reserve account and total expenses for the nine-month period amounted to $8,228,698. During the first three months of 1949 the International Bank approved four new loans amounting to $125,100,000, bringing the total loans approved by the Bank since its organization to $650,100,000. These four new loan agreements consisted of two agreements with two Mexican corporations in the amount of $34,100,000, an agreement with the Brazilian Traction, Light and Power Company, Ltd. in the amount of $75,000,000, and an agreement with the Kingdom of Belgium in the amount of $16,000,000. It was expected that a portion of these loans would be disbursed in currencies other than United States dollars.

The Board of Governors of the International Bank for Reconstruction and Development held its 1963 annual meeting jointly with that of the International Monetary Fund in Washington, D.C., from September 30 to October 4, 1963, under the chairmanship of Mr. Guido Carli, Governor for Italy.1 The meeting was held in conjunction with the annual meetings of the Bank's affiliates, the International Finance Corporation (IFC) and the International Development Association (IDA). The new President of the Bank and its affiliates, Mr. George D. Woods, presented in his annual address a brief summary of the highlights of the year's activities and a more detailed picture of the future opportunities of the Bank

The twelfth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development was held in Washington, D.C., September 23–26, 1957, under the chairmanship of Miguel Cuaderno, Sr. The meeting included four plenary sessions, two of which were held jointly with the International Monetary Fund, and two meetings of the Joint Procedures Committee.

The second annual meeting of the Board of Governors of the International Bank for Reconstruction and Development convened in London on September 11, 1947. On September 12 the Board adopted a report presented by John J. McCloy, president of the Bank, in which were included an outline of the activities of the Bank since the first annual meeting of the Board a year before, financial statements covering the fiscal year which ended June 30, 1947, and the administrative budget for the fiscal year ending June 30, 1948.

The eighteenth annual report of the International Bank for Reconstruction and Development, covering the fiscal year July 1, 1962–June 30, 1963, was presented to the Board of Governors on September 30, 1963. The report noted that the number of loans under preparation in the Bank had increased in the period under review, and although it happened that the total of funds lent declined from the previous year, there was no corresponding decline in the number of loans actually made.

On January 15, 1948, John J. McCloy, President of the International Bank for Reconstruction and Development, announced that the Bank proposed to cooperate with any agencies created to implement the European Recovery Plan. He pointed out that for a few years the Bank's role in European economy would differ from the role envisaged for it by the Bretton Woods conference, and that the European Recovery Plan while overshadowing the activities of the Bank would also make it possible for the Bank to concentrate on financing specific "productive projects" by relieving it of the pressure of making loans intended primarily to meet "balance of payment deficits."

The tenth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development was held in Istanbul, Turkey from September 12 to 16, 1955, under the chairmanship of Ahmed Zaki Saad (Governor for Egypt). Two of the five plenary sessions were held jointly with the Board of Governors of the International Monetary Fund, and on September 15 an informal panel discussion was held on the International Finance Corporation (IFC).

The International Bank for Reconstruction and Development announced on September 6, 1961, a loan equivalent to $3 million to the Central Bank of Costa Rica to assist in a program for the importation of equipment for the development of private industry. The loan was guaranteed by the government of Costa Rica and was for a twelve-year term; the six private banks participating in the loan for a total of $314,000 were to receive the first two maturities falling due in October 1964 and April 1965. On October 13, 1961, the Bank announced three loans. The first, amounting to $34 million, was to the National Power Corporation of the Philippines to assist in financing a large hydroelectric project on the island of Luzon. Twelve United States commercial banks participated in the loan to the amount of $1,217,000 covering the first three maturities of the 25-year term of the loan that was scheduled for semi-annual amortization payments beginning June 1, 1965. On the same day a loan of $50 million to India to assist in railway development under the Third Five-Year Plan was made known. Five United States commercial banks participated for a total of $1,075,000 in the twenty-year term loan with repayment scheduled to begin in
February 1965. The final loan announced on October 13 was to Costa Rica for the improvement of its highway system; the International Bank and the International Development Association (IDA) joined in making $11 million available for that purpose, each offering $5.5 million for the financing of the reconstruction and construction of about 420 miles of national and regional highways and for the import of equipment for highway construction and maintenance. Three commercial banks participated to the extent of $150,000 in the fifteen-year term loan; amortization was to begin on May 1, 1965.

Ninth Annual MeetingThe ninth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development was held in Washington from September 24 to 29, 1954, under the chairmanship of J. van de Kieft (Governor for the Netherlands). Two of the five plenary meetings were held jointly with the Board of Governors of the International Monetary Fund, and on September 28 an informal panel discussion was held on the prospects for private international investment.

The eighth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development was held in Washington from September 9 to 12, 1953, under the chairmanship of Mohamad Ali, Minister of Finance and Economic Affairs of Pakistan. Two of the six plenary meetings were joint sessions with the Board of Governors of the International Monetary Fund. On September 11 an informal panel discussion was held on the subject of private international investment in under-developed countries.

The twentieth annual meeting of the Board of Governors of the International Bank for Reconstruction and Development (IBRD) took place in Washington, September 27–October 1, 1965, under the chairmanship of Yilma Deressa, Minister of Finance and Governor for Ethiopia. The meeting was held in conjunction with the annual meeting of the Board of Governors of the International Monetary Fund (IMF) and with the annual meetings of the Bank's affiliates, the International Development Association (IDA) and the International Finance Corporation (IFC).

Net income of the International Bank for Reconstruction and Development for the six months ending December 31, 1952, was $7,639,743, compared with $8,071,486 for the same period of 1951; gross income, exclusive of loan commissions, was $20,696,715. Loan commissions totaling $4,536,682 were credited to the Special Reserve, increasing it to $32,221,336; the addition of net income to the Supplemental Reserve Against Losses on Loans and Guarantees brought the total of that reserve to $65,667,843. On December 31, 1952, total reserves of the Bank were $97,889,179.