Word: banke
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Dates: during 1960-1969
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...Britain was not the only troubled country to come away from Basel with cause for optimism. Another was France, whose reserves of gold and dollars have so far dropped from $6.8 billion to $5 billion in its crisis. To help France battle speculative attacks against the franc, the Bank for International Settle ments and central banks of five countries (the U.S., Belgium, The Netherlands, Italy and West Germany) agreed to provide Paris with short-term credits totaling $1.3 billion. At the same time, the Basel conferees sought to dampen gold speculation by devising a scheme by which South Africa...
With 32 depositor nations among its members, the Manila-based Asian Development Bank, in the 18 months of its lifetime, has sought to prove its own stability in an area of economic turmoil. Its funds - partly kept on demand in 44 world banks-- earned interest of $4.5 million in 1967 while a multitude of possible investments were being cautiously evaluated. "We are new boys in this business," says Bank President Takeshi Watanabe, 62, of Japan, "and we must be sure of what we are doing...
Thai Fish. If all goes well, the bank by 1971 will have a capitalization of $1 billion to be lent for struggling projects throughout Asia. The largest contributors, Japan and the U.S., will by then have invested $200 million each...
...addition to the U.S., twelve other nonregional members have pledged a total of $155 million-ranging from $34 million from West Germany to $2,000,000 from Italy. The 19 regional countries in the bank will also invest a total of $615 million, giving them 60% of ADB's shares outstanding...
...works. Ceylon will shortly sign for a loan to improve tea production, Taiwan wants $5,000,000 for a fishing fleet, and Indonesia would like $150 million to increase food production. Malaysia has applied to ADB for a loan to build oil-palm mills, and two weeks ago the bank signed a technical-assistance agreement with the Philippines under which ADB will send five experts to see what can be done about the Philippine rice crop. Only 21% of the land, according to an ADB study, is now irrigable in wet seasons and a mere...