Word: bank
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Dates: during 1950-1959
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...still stood on its conditional offer to grant Nasser $56 million toward his dam (Britain is still ready to grant $14 million), to precede a World Bank loan of $200 million. The reasons were basic and simple: 1) the U.S. offer, with its businesslike requirement of a sound Egyptian fiscal system, was good for Nasser-and he knew it; 2) the U.S. knew full well that if Nasser accepted Russian easy terms he was bound to pay a heavy price in independence besides having a hard time laying his hands on the money-and presumably Colonel Nasser knew that...
...business as a man no longer dependent on the West alone. Now, as Foreign Minister, Shepilov was, back to inspect his handiwork. This time he also came bearing gifts, or the offer of gifts. Shepilov hoped to wean Nasser from his bargain with U.S., Britain and the World Bank to finance the High Dam at Aswan...
...grant $56 million outright and Britain another $14 million, for a start. Further grants have been promised, but cannot be guaranteed because the U.S. cannot commit Congress more than a year in advance. A major chunk is to come in the form of $200 million loans from the World Bank. Though most of the details of financing were settled months ago, there have been mysterious delays, which Nasser blames...
Waiting Game. Another Nasser caller last week was World Bank President Eugene Black, who flew in to Cairo. Reportedly, Nasser told Black that he still preferred to accept the West's offer, and asked him to urge speed on the State Department, which has been holding things up since March-while it mulls details and makes up its mind about Nasser's intentions in the Middle East. In August, Nasser will go to Moscow on a state visit. If by then the U.S. and Britain have not settled with him, they may find that Nasser has picked...
...case in point: Colombia. Some 60% of all Colombian breadwinners earn their living in agriculture, yet food production fails to keep pace with population growth. In a report issued last week, a World Bank mission urged the Colombian government to undertake a "mobilization of resources" to expand agricultural output. Among the recommendations...