Word: bank
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Dates: during 1950-1959
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...hardly expects any more to conquer Israel. U.N. Secretary-General Dag Hammarskjold, avoiding the inflamed question of repatriation altogether, suggests that to get the refugees off the dole, UNRWA's vocational training program should be greatly expanded. Then if UNRWA disappears, a new agency, possibly with World Bank financial backing, should give refugees jobs building such public works as dams and irrigation schemes in the Arab countries in which they now live. Jordan and the United Arab Republic have approved the plan "in principle...
...quarreled over how much water each got, fully 80% of the Indus flow swept unused to the sea. The question was "pure dynamite," Lilienthal noted, and he urged that an extended canal system be "designed, built and operated as a unit," jointly financed by India, Pakistan and the World Bank...
Fair Division. World Bank President Eugene Black welcomed the idea, and both New Delhi and Karachi accepted the bank's good offices. But years of hard work failed to temper nationalistic passions. Suggestion after suggestion fell through; scheme after scheme foundered in a sea of mutual antagonism. Doggedly, the World Bank continued its efforts, and last month in Washington won agreement from India and Pakistan to a fair division of the water flow until March...
President Black, accompanied by his top aides, flew to New Delhi with fresh proposals aimed at a final settlement. If both sides could agree, the World Bank would help raise the estimated $600 million needed to put the plan into operation. One stumbling block is that India would have to put up a substantial part of the funds to build link canals and reservoirs in Pakistan to replace water that India diverted for itself. Still, as Black knew, New Delhi and Karachi are tired of a decade of bitterness, and some Indians and Pakistanis, watching Red China's actions...
...diligent Dwight Robinson made a crack team. With his flair for drama, Griswold pulled Massachusetts Investors Trust through a major test in 1932. Despite the fund's respectable performance in the crash, the idea persisted that it could not handle a run on its shares. When a Boston bank was forced to cash in 40,000 M.I.T. shares held as collateral, it called up Griswold, advised him that it would deliver the blow gently by selling over a period of several weeks. Snapped Griswold: "Send them in this afternoon." M.I.T. redeemed $200,000 worth out of its cash reserve...