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The International Bank for Reconstruction and Development made a loan of $30 million for the continuation of a national power expansion program in Yugoslavia. The loan was to help to finance construction of a 240,000-kilowatt hydroelectric plant in central Yugoslavia, and the extension of the country-wide electric power network by the installation of 362 miles of transmission lines and associated substations. The loan was made to the Yugoslav Investment Bank, an institution of the federal government which channeled investment funds for development. The Investment Bank was to re-lend the proceeds of the Bank loan to the enterprises responsible for constructing and operating the power plant and the transmission system. The loan was for a term of 25 years at an interest rate of 5¾ percent; amortization was to begin on December 1, 1966. The loan was guaranteed by the government of Yugoslavia.

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).

On May 25,1948, the International Bank for Reconstruction and Development announced that arrangements had been completed for the sale of an issue of 2½ per cent Swiss franc serial bonds, maturing in 1953 and 1954, with a total value of 17 million Swiss francs (approximately $4,000,000). The entire issue was purchased by the Bank for International Settlements, the proceeds to be made available to the Netherlands Government for the purposes of the loan granted it in August 1947. According to the Bank's announcement of the issue, the original loan agreement with the Netherlands would be adjusted to provide for repayment in Swiss francs in the amounts and on the dates corresponding to the maturities of the issue; the principal purpose of the sale was "to make currencies other than dollars available to the Bank for use in its lending operations." As the first sale of Bank securities outside the United States, the Swiss franc issue was considered by Bank officials as a pilot issue foreshadowing future sales in order to replenish the Bank's reserves of foreign currencies.

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 International Bank for Reconstruction and Development announced on June 10, 1959, a loan equivalent to $11.6 million to the Union of South Africa. The funds were to help carry out a railway expansion program, executed by the South African Railways and Harbors Administration, that had been one of the chief objects of public investment in the Union since the end of World War II. Twelve banks participated in the loan for a total amount of $2,484,000, representing the first three maturities and parts of the fourth and fifth maturities which were to fall due between December 1961 and December 1963. Among the participating banks were: the Bank of America, Continental Illinois National Bank and Trust Company, The Philadelphia National Bank, The New York Trust Company, Morgan Guaranty Trust Company of New York, National Shawmut Bank of Boston, The First National Bank of Chicago, The Chase Manhattan Bank, First National City Bank of New York, The Northern Trust Company, and the Swiss Bank Corporation (Basle). Amortization of the loan, which was for a term of ten years and bore interest of 6 percent, was to begin in December 1961.

On June 6, 1961, the International Bank for Reconstruction and Development announced a $15 million loan to Ceylon for the expansion of Ceylon's electric generating capacity and for the extension of electric power distribution in western Ceylon. The loan, the third made by the Bank to Ceylon for the purpose of developing an integrated electric power system under the Department of Governmental Electrical Undertakings (DGEU), was to cover the foreign exchange requirements of the project; local currency costs were to be met from government contributions and from DGEU's earnings. The loan was a 25-year term loan at 5%¾ percent interest, with amortization to begin on November 15, 1964. Six commercial banks participated in the loan, without the International Bank's guarantee, for a total amount of $1.1 million.

On January 6, 1949 the International Bank granted two loans totalling $34,100,000 for electric power development in Mexico. These were in pursuance of a policy stated in the Bank's third annual report of a definite increase in its activities in parts of the world other than Europe, and was the second time the Bank granted a loan for development purposes in the western hemisphere. The joint borrowers in the case of each Mexican loan were the Comisión Federal de Electricidad, a Mexican Government agency charged with the development of electric power facilities, and Nacional Financiera, an official financing institution whose functions included negotiation of foreign loans on behalf of the Mexican Government. Both loans are guaranteed by the Mexican Government.

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.

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 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 June 17, 1960, a twenty-year term loan of $15.5 million, bearing 6 percent interest per annum, with amortization beginning in 1963, to the Republic of the Sudan, to finance most of the remaining foreign exchange costs of the Managil Irrigation Scheme, local currency requirements to be provided by the government of the Sudan. The project was an extension of, and patterned on, the Gezira Scheme, one of the most successful irrigation projects in the world, and a 10 percent annual increase in the value of Sudan's agricultural output was expected to result from its development. Three United States banks participated in the loan.

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.

The International Bank for Reconstruction and Development participated in several loans for electric power development during the late winter and spring of 1961. 1) On February 23, 1961, the Bank announced a loan of $30 million for the expansion of electric generating and transmission facilities in Yugoslavia. The loan was to help finance die construction of a 216,000-kilowatt hydroelectric plant in the Velebit mountains near Senj on the Adriatic coast and the installation of 790 miles of high voltage transmission lines to improve the country-wide electric power network. Six private commercial banks participated in the loan, which was for a term of 25 years and was to bear interest of 5¾ percent, with amortization to begin March 1, 1965. 2) The Bank also made a loan to the Japanese Development Bank that in turn was to re-lend the proceeds to the Kyushu Electric Power Co., Inc., for the expansion of electric generating capacity on the island of Kyushu. The loan, announced on March 16, 1961, was to assist in financing the construction of a 156,000-kilowatt thermal power plant at Kokura in northern Kyushu, one of the most heavily industrialized areas in Japan. It was for a term of twenty years and bore interest of 5¾ percent, with amortization to begin September 1, 1962. The International Bank had previously lent $11.2 million in 1953 for the installation of an initial 75,000-kilowatt unit in the Karita thermal power station to expand the Kyushu company's power facilities. 3) Another loan for electric power expansion was made known on March 29, 1961, when the Bank announced that it had lent $8.4 million to the United Kingdom Protectorate of Uganda for the extension of the electric power transmission and distribution systems of the Uganda Electricity Board. The loan, guaranteed by the United Kingdom, was for a term of twenty years and bore interest of 5¾ percent, with amortization to begin June 1, 1964. Fourteen banks in the United States, Belgium, and the Netherlands participated in the loan, which was to meet the cost of imported goods and services for the Electricity Board's $14 million development program. 4) On May 12, 1961, the Bank announced a loan of $22 million for the expansion of hydroelectric installations to supply power to the metropolitan area of Medellin, an important manufacturing center in Colombia. The loan was made to the Empresas Publicas de Medellin, an autonomous public enterprise, and was to provide for the addition of 138,000 kilowatts of new capacity to the system already servicing the area and for the extension of transmission and distribution facilities. Empresas was to finance local currency costs from its own resources. The Bank had already loaned $12 million to Empresas in 1959 for the first stage of its electricity project. Four commercial banks participated in the loan, which was for a term of 25 years, bore interest at 5¾ percent, and was scheduled to begin amortization in March 1966.

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.