World Bank Historical Chronology: 1950-1959

1950
1950	International events	US occupation of Japan ends. Prime Minister Jawaharlal Nehru institutes the first Indian Five Year Plan. Britain recognizes Communist China. China and USSR sign a 30-year pact. China occupies Tibet, which appeals unsuccessfully to the UN. US Senator Joseph McCarthy warns that the US government is "riddled with Communists". North Korea invades South Korea, beginning the Korean War. US gives military aid to the French in Indochina. Colombo Plan goes into effect to help economic development of countries in South and South-East Asia.
1950	January 1	Bank announces that negotiations have been discontinued between the Bank the UK Colonial Development Corporation for a loan of approximately $5 million. The Colonial Development Corporation expressed that it was unable to accept certain of the Bank's requirements, especially the non-financial covenants.
1950	January 25	Bank announces sale, through competitive bidding, of $100 million of its bonds to syndicate headed by Chicago banks.
1950	February 23	Eugene Black makes visit to Canada to address Investment Dealers' Association of Canada, and conferences with government officials. He is accompanied by Morton Mendels, Bank Secretary and Canadian citizen.
1950	March 6	Bank announces sale of Swiss franc bond issue to a group of leading Swiss banks.
1950	March 6	Norman M. Tucker goes to El Salvador in connection with marketing of Salvadorean colones bonds.
1950	March 10	Robert L. Garner visits Union of South Africa and Northern and Southern Rhodesia, accompanied by John M. Penton and John H. Collier. It is the first Bank visit to these countries.
1950	March 14	Poland withdraws from the Bank, claiming Bank's subservience to the Marshall Plan and the intended subordination of Europe to the United States. World Bank replies that the Polish government is in error, and that the Bank's operations have been conducted in accordance with the Articles of Agreement.
1950	March 23	Bank mission to Ethiopia for six-week mission, headed by Orvis A. Schmidt (first Bank mission to Ethiopia).
1950	April 18	Bank lends $18.5 million to India for further development of Damodar River Valley.
1950	April 19	Bank mission to Iran for one month mission, headed by F. Dorsey Stephens (first Bank mission to Iran).
1950	April 24	President Black announces release from French franc subscription to Bank's capital.
1950	May 3	Announcement made that a group of fourteen banks, headed by the Nederlandsche Handel Maatschappij NV, has applied for the listing on the Amsterdam Stock Exchange of Netherlands Trustee certificates to be issued against the 25-years 3 percent bonds of the Bank.
1950	May 11	Bank reports that steel facilities it has helped to finance in Western Europe are nearing completion and that some operations have already started. A total of $28,600,000 was made available for the reconstruction and modernization of steel capacity in France, Belgium, and Luxembourg.
1950	May 24	Bank announces that six additional countries have taken action toward making their currencies available to the Bank for its lending operations: The Netherlands, Italy, Mexico, Honduras, El Salvador, and Paraguay.
1950	May 24	Bank announces that the Central Bank of Mexico has authorized domestic and foreign banks operating in Mexico to use part of their foreign exchange reserve deposits with the Central Bank to acquire International Bank bonds.
1950	June 5	Bank announces that Cost Rica has agreed in principle to the use of its paid-in currency for Bank lending operations.
1950	June 14	Bank mission to Guatemala for two months, headed by George E. Britnell (first Bank mission to Guatemala).
1950	June 15	First funding for Iraq: Loan 0026 - Wadi Tharthar Flood Control Project. Bank lends $12.8 million to the Kingdom of Iraq for the construction on the Tigris River of a flood control system (first World Bank loan to the Middle East).
1950	June 17	Bank economic mission to Turkey for three months, headed by James M. Barker.
1950	July	Bank mission to Peru, headed by S. W. Anderson.
1950	July 7	First funding for Turkey: Loan 0027 - Grain Storage Project
1950	July 11	IBRD Articles of Agreement signed by Pakistan, becoming the 48th member of the Bank
1950	July 30	Bank mission to Union of South Africa, for four to six weeks, headed by E. G. Burland, with Martin Rosen, John H. Collier, Alexander D. Spottswood, and others.
1950	July 31	Bank mission to Cuba, for three months, headed by Francis Adams Truslow (first Bank mission to Cuba).
1950	August 13	The Basis of a Development Program for Colombia, a report of the June 1949 mission to Colombia, is made available to the public.
1950	August 22	First funding for Australia: Loan 0029 - Agriculture, Industry, Transport and Mining. (The Bank's first program loan).
1950	August 25	First funding for Uruguay: Loan 0030 - Power and Telephone Project.
1950	August 29	IBRD Articles of Agreement signed by Ceylon, becoming the 49th member of the Bank.
1950	August 30	Yugoslavia approves use of its entire 18 percent paid-in currency, subject to consultation with Bank in each case.
1950	September 7	Fifth annual Governors meeting, at the Annex of the Bank of France in Paris.
1950	September 13	Robert L. Garner visits Finland, Sweden, Norway and Denmark (first visit by ranking Bank officer to these countries).
1950	September 13	First funding for Ethiopia: Loan 0031 Highway Project (01)- $5 million for rehabilitation and maintenance of road system, and Loan 0032 - Development Bank Project for $2 million for new development bank (first loan to Africa, first development bank loan).
1950	September 14	Iceland and Norway approve use of their paid-in currency.
1950	October 13	Bank and FAO jointly sponsor agricultural survey mission to Uruguay (first sector study, first mission to Uruguay).
1950	October 13	Bank economic mission to Pakistan, for six weeks, headed by George W. Burgess (first mission following Pakistan's membership in Bank).
1950	October 19	Bank announces $9 million loan to Industrial Development Bank of Turkey.
1950	October 26	George L. Martin appointed director of marketing.
1950	October 27	First funding for Thailand: Loan 0036 - Irrigation Project.
1950	October 29	Bank mission to Syria and Iraq (first mission to Syria), headed by F. Dorsey Stephens.
1950	November 21	Harold N. Graves, Jr., appointed director of Public Relations Department of the Bank. He replaces William L. Ayers, who suffered a heart attack while en route to the Annual Meetings in Paris.
1950	December 28	Bank issues year end report: Total loans of IBRD passed the $1 billion mark for the first time; 49 member countries; 17 different loans approved, totaling $279,230,000; survey missions sent to Cuba, Turkey and Guatemala; establishment of a General Reserve against losses on loans and guarantees.

1951
1951	International events	Mohammed Mossadegh becomes Prime Minister of Iran and nationalized the oil industry, precipitating a major crisis with Britain. Pakistani Prime Minister Liaquat Ali Khan is assassinated, initiating a period of civil disorder in Pakistan. Libya becomes independent.
1951	January 10	Bank issues advance report based on the Cuban survey mission, advocating immediate privatization of Cuba's railways.
1951	January 11	Bank economic mission to Nicaragua, headed by Federico Consolo, with Albert Waterston and others (first Bank mission to Nicaragua).
1951	January 23	First funding for South Africa: Loan 0041 - Electric Power Development Project.
1951	March	US International Development Advisory Board proposes that an International Finance Corporation be established as an affiliate of the World Bank.
1951	April 4	Bank announces appointment of W. A. B. Iliff as assistant to Eugene R. Black, President.
1951	April 27	Aron Broches named assistant general counsel, following the retirement of Ansel F. Luxford.
1951	May 17	London banking firm of Baring Bros. And Co., Ltd. Announces preparation of public offering of 5,000,000 pound issue of 3.5 percent, 20-year Bank bonds. First public offering outside the United States.
1951	May 24	Canadian government permits Bank to use for loans $7.5 million in Canadian dollars from paid-in capital subscription.
1951	May 26	Agricultural mission to Chile named - jointly sponsored by FAO and Bank.
1951	June 5	Report of economic survey mission to Turkey published.
1951	June 7	First funding for Nicaragua: Loan 0045 - Highway Project.
1951	June 20	First funding for Iceland: Loan 0046 - Power Project. It is the first loan consisting entirely of currencies other than the US dollar; the funds are disbursed in sterling, French francs, Danish kroner, and Norwegian kroner.
1951	June 20	Joint Bank-Economic Commission for Latin America conference on economic programming opens at Pan-American union, Washington, D.C.
1951	June 23	Bank mission visits Belgian Congo, at the request of the Belgian government. Mission is headed by S. R. Cope, and will travel to Brussels, Leopoldville, and back to Brussels. (First Bank mission to Belgian Congo).
1951	July 3	Syndicate of leading Swiss banks announces the first public offering in Switzerland of Bank bonds.
1951	July 3	Recommendations for economic development of Guatemala made public in a report of a mission to Guatemala.
1951	July 25	Program for the development of agricultural resources in Uruguay made public in a report by a joint mission of FAO and the Bank.
1951	August	UN Economic and Social Council adopts a resolution requesting that the World Bank consider the possible contribution that an International Finance Corporation could make to economic development, and to report back to ECOSOC.
1951	August 14	Bank mission to Paraguay, for four weeks, headed by E. G. Burland (first Bank mission to Paraguay).
1951	August 16	Report of the Truslow mission to Cuba transmitted to the Cuban government.
1951	August 31	IBRD Articles of Agreement signed by Sweden, becoming the 50th member of the Bank.
1951	September 10	Sixth Annual Meeting opens at the Shoreham Hotel, Washington, D.C.
1951	September 13	First funding for Democratic Republic of Congo: Loan 0047 – Belgium Congo Development Plan Project. Loans announced of $40 million to Belgian Congo and $30 million to the Kingdom of Belgium. The loans are to carry out a ten-year development plan of the Belgian Congo (first "impact" loan.)
1951	September 27	Bank economic survey mission to Ceylon announced (first Bank mission to Ceylon).
1951	September 30	First loans repaid (Finland, Yugoslavia).
1951	October 10	First funding for Italy: Loan 0050 - Equipment for Development Project. Loan of $10 million made to Cassa per il Mezzogiorno of Italy ("impact" loan)
1951	October 19	Bank mission to Costa Rica, headed by Federico Consolo (first Bank mission to Costa Rica).
1951	October 23	Bank economic survey mission to Southern Rhodesia, headed by S. R. Cope, with Andrew Kamarck.
1951	October 26	Bank economic survey mission to Surinam, headed by Richard H. Demuth (first Bank mission to Surinam).
1951	October 31	Bank economic survey mission to Finland, headed by Alexander Stevenson.
1951	November 1	Richard H. Demuth appointed director of technical assistance and liaison.
1951	December 7	First funding for Paraguay: Loan 0055 - Agriculture project.
1951	December 10	Bank announces that it will be participating in District of Columbia civil defense program. Among other actions, two pamphlets are distributed: "You and the Atom Bomb" and "Survival under Atomic Attack".
1951	December 31	Robert L. Garner, Torkild Rieber and Hector Prud'homme travel to Teheran, Iran, to begin the Bank's study of oil situation. The purpose of the mission is "for further discussions with Iranian officials regarding the oil situation . . . and will attempt to work out . . . a basis of agreement which might make possible definite proposals leading to a resumption of oil operations in Iran".

1952
1952	International events	In Egypt, a revolution overthrows the monarchy and establishes a republic, headed first by General Muhammad Neguib and then Gamal Abdul Nasser. In Bolivia, a revolution establishes Paz Estenssoro as President of Bolivia. In Kenya, the Mau Mau rebellion (which lasts until 1959) breaks out over British colonial land policies, and British authorities declare a state of emergency. Elizabeth II succeeds to the British throne on the death of her father George VI. Greece and Turkey join NATO. Nationalist leader Kwame Nkrumah becomes Prime Minister of Gold Coast. First contraceptive pill is developed.
1952	January 3	IBRD Articles of Agreement signed by Burma, becoming the 51st member of the Bank.
1952	January 23	First funding for Peru: Loan 0057 - Port of Callao project.
1952	January 25	Eugene R. Black leaves for visit to Pakistan, India, Ceylon, Thailand, and Australia.
1952	February 11	Report of comprehensive economic survey mission to Iraq published.
1952	February 13	Bank staff from the United Kingdom and Commonwealth countries are given excused absence in order to attend memorial services for the late King George VI.
1952	February 20	Bank mission to Australia, headed by S. R. Cope, with Andrew Kamarck.
1952	February 25	Comprehensive economic survey mission to Jamaica announced.
1952	February 27	First funding for Zimbabwe: Loan 0058 - Electric Power Project.
1952	March 1	Bank economic survey mission to Jamaica, headed by John C. de Wilde (first Bank mission to Jamaica).
1952	March 21	Loan of $7 million made to KLM Royal Dutch Airlines to help finance program to replace part of its air fleet.
1952	March 27	First funding for Pakistan: Loan 0060 - Railway project, for $27.2 million.
1952	April 3	World Bank issues its review of the negotiations for the Iranian oil problem.
1952	April 29	World Bank submits a report to ECOSOC on a proposal for the establishment of an International Finance Corporation to stimulate economic development through private investment in underdeveloped countries.
1952	May 6	Surinam survey mission report published.
1952	May 7	Meetings begin between engineers from India and Pakistan to study, together with Bank engineers, possible technical measures to increase the supplies of water available form the Indus system of rivers for purpose of economic development. The meetings are expected to go on for some time.
1952	May 22	Canada releases $41 million (in Canadian dollars), freely convertible, from capital subscription.
1952	June 26	Pieter Leiftinck of Netherlands appointed special representative in Turkey.
1952	June 26	"An initial meeting between engineers from India and Pakistan has been held in the offices of the International Bank for Reconstruction and Development…in order to prepare an outline or program and lists of studies for possible technical measures to increase the supplies of water available from the Indus System of rivers for purposes of economic development."
1952	June 30	Luis Machado appointed to deal with special matters in Latin America.
1952	July 16	William Howell appointed director of administration, succeeding Chauncey Parker, who resigned to become Chief of the Mutual Security Agency's Special Mission in Italy.
1952	August 13	IBRD Articles of Agreement signed by Japan, becoming the 52nd member of the Bank.
1952	August 14	IBRD Articles of Agreement signed by Germany, becoming the 53rd member of the Bank.
1952	August 29	IBRD Articles of Agreement signed by Jordan, becoming the 54th member of the Bank.
1952	September 5	Seventh Annual Meeting begins at Del Prado Hotel in Mexico City.
1952	October	Bank staff reorganized. Three Area Departments of Operations (Asia and Middle East; Europe, Africa, and Australasia; and Western Hemisphere)and Technical Operations Department created.
1952	October 2	J. Burke Knapp named director of operations for the Western Hemisphere.
1952	October 9	World Bank announces three missions to be sent to Africa. A mission to South Africa consists of D. Crena de Iongh, Andrew Kamarck, and John H. Collier. A mission to the Gold Coast, consisting of Benjamin B. King, is the Bank's first mission to West Africa. A mission to East Africa consists of Michael LeJeune and J. H. Williams.
1952	October 17	Completion of "The Major Long-Term Trends in the Mexican Economy", prepared by Mexican officials and Albert Waterston and Jonas H. Haralz of the World Bank. The joint Mexican-Bank economic study is published as The Economic Development of Mexico, in May 1953.
1952	October 20	Economic mission to Japan announced (first Bank mission to Japan).
1952	November 26	"In order to help staff members who plan to send Christmas cards to friends in the Bank," a list of staff members and addresses has been prepared.
1952	December 19	Loan of $31.5 million to India for iron and steel production announced.

1953
1953	International events	Joseph Stalin dies, and a power struggle ensues in the USSR (March 5). London Conference of Northern and Southern Rhodesia and Nyasaland held. Over the protests of African nationalist leaders, all three territories are amalgamated for a ten-year trial period as the Central African Federation. Anti-French riots begin in Morocco. Korean Armistice signed. Mossadegh overthrown as prime minister in Iran in a coup engineered by the US and Britain; Muhammad Reza Shah restored to full power. Second Conference on Federation of West Indies takes place in London. Mt. Everest is climbed for the first time in recorded history. Double-helix structure of the DNA molecule is proposed.
1953	January 7	Henry W. Riley appointed treasurer, succeeding D. Crena de Iongh, who was elected to be Executive Director for the Netherlands.
1953	January 9	Jamaica survey mission report announced.
1953	January 30	Francois-Didier Gregh, of France, appointed director of Department of Operations for Asia and the Middle East.
1953	February 12	Eugene Black's seven-week trip to Egypt, Lebanon, Jordan, Iraq, Syria, Ethiopia, and Turkey announced (beginning of Aswan High Dam discussions).
1953	February 26	Milton C. Cross named director of technical operations.
1953	March 5	Mission to Germany announced.
1953	March 11	First funding for Zambia: Loan 0074 - Railway Project (01).
1953	May 23	Eugene Black leaves for three weeks visit to Paris, London, Geneva, Basle, and cities in Germany to discuss issues with government leaders and to obtain firsthand knowledge of the problems involved in the countries' development. Black returns on the Queen Elizabeth in June.
1953	August 24	Department of Technical Operations is replaced by the Agriculture Division, the Transportation Division, the Industry Division and the Public Utilities Division.
1953	September 8	Eugene Black appointed President for another five-year term (to July 1, 1959).
1953	September 8	IBRD Articles of Agreement signed by Haiti, becoming the 55th member of the Bank.
1953	September 9	Eighth annual meeting opens at the Shoreham Hotel in Washington.
1953	September 18	General survey mission to Nigeria announced.
1953	September 25	Chester A. McLain, former General Counsel of the Bank, dies.
1953	September 25	First funding for Panama: Loan 0086 - Agricultural Machinery Project.
1953	October 15	First funding for Japan: Loan 0089 - Kansai Power Project.
1953	October 20	Dorsey Stephens named Bank's regional representative in Middle East, with offices in Beirut, Lebanon.

1954
1954	International events	Indochina conflict ends with French capitulation to Communist forces. Two separate regimes emerge: North Vietnam and South Vietnam. Cambodia and Laos also become independent. Nasser takes power in Egypt. Nigeria forms a federal structure uniting Northern, Eastern, and Western Nigeria, along with the UN Trust Territory of the Cameroon and the federal territory of Lagos. General Alfredo Stroessner seizes power in Paraguay, establishing a 35-year dictatorship. A CIA-backed coup in Guatemala overthrows Guatemalan President Jacobo Arbenz, whose nationalist, reformist policies included expropriation of land belonging to United Fruit Company. Open insurrection breaks out in Algeria as the FLN (National Liberation Front) demands independence from France. The Algerian War continues until 1962. US continues testing hydrogen weapons, and concerns about nuclear fallout mount. Polio vaccine developed by Dr. Jonas Salk is used for the first time in mass inoculations. Steerable radiotelescopes commissioned in Britain and US. First silicon transistor is developed, and the first transistor radio is marketed.
1954	January 13	Bank announces general survey mission to Malaya and Singapore.
1954	February 3	Mission to Syria announced to make general survey of the economy.
1954	February 10	First funding for Ecuador: Loan 0094 - Guayas Highway Project.
1954	April 8	First funding for Norway: Loan 0097 - General Development Project.
1954	April 15	IBRD Articles of Agreement signed by Indonesia, becoming the 56th member of the Bank.
1954	June 10	First funding for Cote d'Ivoire (Ivory Coast): Loan 0100 Transportation Project.
1954	July 9	First funding for Sri Lanka (Ceylon): Loan 0101 Aberdean - Laksapara Power Project.
1954	July 12	IBRD Articles of Agreement signed by Burma, becoming the 57th member of the Bank.
1954	July 19	First funding for Austria: Loan 0102 Electric Power Project.
1954	September 15	C. B. H. Colquhoun replaces R. A. Wheeler as Engineering Adviser to the Bank.
1954	September 21	First sale of dollar bond issue entirely outside United States announced.
1954	September 24	Ninth Annual Meeting opens at the Mayflower Hotel, Washington.
1954	December 10	India and Pakistan representatives resume discussions on the Indus River system under the aegis of the Bank.
1954	December 15	Belgium receives loan of $20 million, with $30 million public offering of Belgian government bonds (first joint financing with market.)
1954	December 23	Industrial Credit and Investment Corporation of India, Ltd., receives loan of $10 million.
1954	December 31	Czechoslovakia withdraws from membership in the Bank, bringing total membership in IBRD to 56.

1955
1955	International events	China's "New Democracy" ends and collectivization begins. National Organization of Cypriot Fighters (EOKA) launches attacks on British forces in Cyprus. Argentine military overthrows President Peron, forcing him into exile in Spain. First electricity generated by nuclear power is used in Schenectady N.Y. Tetracycline and Optical fibers are developed.
1955	January 24	John Duncan Miller appointed special representative in Europe. Succeeds Walter Hill, who served at this post for years.
1955	March 11	Bank announces establishment of an Economic Development Institute, with the support of the Rockefeller and Ford Foundations..
1955	March 15	First funding for East African Community: Loan 0100 - Railways and Harbours Project.
1955	March 24	Agricultural mission to Colombia, headed by Sir Herbert Stewart, announced.
1955	March 25	General survey mission to Jordan announced - to be headed by Dr. Pieter Leiftinck.
1955	April 15	Bank transmits charter of proposed International Finance Corporation to member governments for approval.
1955	April 18	Report of general survey mission transmitted to Syrian government.
1955	April 19	Investment market and World Bank engage in combined operation to lend $40 million to Norway.
1955	May 5	Joseph Rucinski appointed director of Department of Operations for Asia and the Middle East.
1955	June 1	Loan of $70 million to Italy announced, for projects to increase agricultural production, industrial output, and electric power service in southern Italy.
1955	June 1	Simon Aldewereld is appointed Director of Department of Technical Operations.
1955	June 6	S. R. Cope appointed director of operations, Europe, Africa, and Australasia.
1955	June 15	A. S. G. Hoar retires from the World Bank.
1955	June 21	Interim agreement on irrigation use of the Indus system of rivers signed by India, Pakistan, and the Bank.
1955	July 14	IBRD Articles of Agreement signed by Afghanistan, becoming the 57th member of the Bank.
1955	July 29	First funding for Guatemala: Loan 0124 - Highway Project.
1955	August 1	Corbin Allardice appointed as Atomic Energy Advisor to the Bank.
1955	August 15	Martin M. Rosen appointed Assistant Director, Department of Technical Operations.
1955	August 25	First funding for Lebanon: Loan 0129 - Litani Power and Irrigation Project.
1955	August 26	IBRD Articles of Agreement signed by Korea, becoming the 58th member of the Bank.
1955	August 26	First funding for Algeria: Loan 0131 Electric Power Development Project.
1955	August 30	Bank informs Egyptian government that, based upon its studies, the proposed High Dam at Aswan is technically and economically sound. Bank engineers will visit the site later in the year.
1955	September 12	Tenth annual meeting opens at University of Istanbul.
1955	October 15	Press release on the Indus Waters discussion : "It has not been possible to bring the discussions to a successful conclusion by the specified date. Consequently, by agreement between the two Governments and the Bank, the terminal date has been extended."
1955	October 21	Bank's offices in the Equitable Building are burglarized, and a number of checks cashed by Bank staff were stolen.
1955	October 24	Bank engineers visit Cairo; discuss Aswan High Dam.
1955	November 3	Indus Waters agreement extended to March 31, 1956.
1955	December 5	International Finance Corporation - US deposits instruments of acceptance.
1955	December 22	First funding for Honduras: Loan 0135 - Highway Maintenance Project, for $4.2 million.

1956
1956	International events	Sudan declares independence from Britain and Egypt. Nikita Krushchev emerges as Stalin's successor in USSR. Morocco becomes independent as French protectorate ends. Suez Crisis breaks out in July. Nasser nationalizes the Suez Canal. Israel invades Egypt, followed by Anglo-French attacks on Egyptian airfields and invasion of the Canal Zone to ostensibly to separate Israeli and Egyptian forces; US forces Britain, France, and Israel to withdraw. Pakistan adopts a new constitution making it an Islamic state. Unrest and subsequent revolution break out in Hungary, but it is suppressed by a Soviet invasion force. Fidel Castro lands on eastern coast of Cuba and launches the Cuban revolution. Construction begins on Brasilia as the new capital city of Brazil. Transatlantic cable telephone service begins.
1956	.	Resident Mission established in Pakistan.
1956	January 9	Economic Development Institute begins operations, with A. K. Cairncross as director. The first participants come from Belgian African Territories, Ceylon, Colombia, Egypt, Haiti, India, Japan, Mexico, Nigeria, Pakistan, Philippines, Thailand, Uganda, and Yugoslavia.
1956	January 24	President Black's visit to Egypt to discuss Aswan High Dam project announced.
1956	March 9	World Bank mission to the Italian Trust Territory of Somaliland. The mission staff includes D. Crena de Iongh, John H. Williams, and others.
1956	April 11	World Bank mission to Pakistan to discuss the establishment of an industrial credit bank in Pakistan. Mission staff includes George Woods, Joseph Rucinski, and others.
1956	April 19	World Bank mission to India to review progress under India's first five-year plan. Mission staff includes Thomas H. McKittrick, John C. de Wilde, and others.
1956	April 30	Indus Waters negotiation deadline extended indefinitely.
1956	May 4	First funding for Burma (Myanmar): Loan 0139 - Railway Project.
1956	May 7	First funding for Haiti: Loan 0141 Highway Maintenance Project.
1956	June 30	Bank staff grows in number to 511.
1956	July 20	IFC charter comes into force, with an authorized capital of $100 million. The first thirty-one members are: Iceland, Canada, Ecuador, United States, Egypt, Australia, Mexico, Costa Rica, Ethiopia, Peru, Dominican Republic, United Kingdom, Panama, Ceylon, Haiti, Guatemala, Nicaragua, Bolivia, Honduras, India, El Salvador, Pakistan, Jordan, Sweden, Norway, Japan, Denmark, Finland, Colombia, Germany and France.
1956	July 24	Robert L. Garner becomes President of IFC.
1956	July 24	New staff appointments as a result of the creation of IFC. W. A. B. Iliff, and J. Burke Knapp are named Vice presidents of Bank; Davidson Sommers appointed Vice President and General Counsel. Orvis A. Schmidt and Federico Consolo appointed to the Western Hemisphere Department. Aron Broches, Ellsworth Clark and Lester Nurick appointed to positions in the Legal Department.
1956	September 18	Swiss government loans World Bank 200 million Swiss francs - about $47 million.
1956	September 18	First funding for Costa Rica: Loan 0147 – Capital Goods Importation Credit Project.
1956	September 20	IBRD Articles of Agreement signed by Argentina, becoming the 59th member of the Bank.
1956	September 20	Michael L. Hoffman named director of Economic Development Institute.
1956	September 21	IBRD Articles of Agreement signed by Vietnam, becoming the 60th member of the Bank.
1956	September 24	Eleventh annual meeting of Governors of Bank convenes in Washington; at Sheraton Park Hotel. IFC holds first meeting.
1956	September 26	IFC Articles of Agreement signed by Israel, becoming the 33rd member of IFC.
1956	September 26	Indus Waters negotiation extended until March 31, 1957.
1956	September 28	IFC Articles of Agreement signed by Austria, becoming the 34th member of IFC.
1956	October 4	IFC Articles of Agreement signed by Luxembourg, becoming the 35th member of IFC.
1956	November 19	Announcement made that Bank is going to increase its activities in developing countries in connection with development banks and corporations. The Technical Assistance and Liaison Staff will coordinate functions relating to the study of existing development banks, to the establishment of new institutions, and to the assessment of their operating records.
1956	December 3	IFC Articles of Agreement signed by Burma, becoming the 36th member of IFC.
1956	December 3	IFC Articles of Agreement signed by Thailand, becoming the 37th member of IFC.
1956	December 7	Appeal made to Bank staff to give donations to aid Hungarian refugees.
1956	December 7	Announcement to staff: "The custom of sending cards at Christmas time is indeed a friendly one. However, since the staff have the opportunity of exchanging greetings in person…the managements of the Bank and Corporation suggest that cards not be exchanged between staff members."
1956	December 19	IFC Articles of Agreement signed by Turkey, becoming the 38th member of IFC.
1956	December 26	Eugene Black strongly denies that World Bank is planning a loan to the Hungarian government, stating that Hungary is not a member of the Bank, and is therefore not eligible to borrow from it; even if it were a member, Mr. Black would not recommend a loan to the present Hungarian government.
1956	December 27	IFC Articles of Agreement signed by Belgium, becoming the 39th member of IFC.
1956	December 27	IFC Articles of Agreement signed by Iraq , becoming the 40th member of IFC.
1956	December 27	IFC Articles of Agreement signed by Italy, becoming the 41st member of IFC.
1956	December 28	IFC Articles of Agreement signed by Iran, becoming the 42nd member of IFC.
1956	December 28	IFC Articles of Agreement signed by Indonesia, becoming the 43rd member of IFC.
1956	December 28	IFC Articles of Agreement signed by Lebanon, becoming the 44th member of IFC.
1956	December 28	IFC Articles of Agreement signed by Netherlands, becoming the 45th member of IFC.
1956	December 28	IFC Articles of Agreement signed by Venezuela, becoming the 46th member of IFC.
1956	December 31	IFC Articles of Agreement signed by Brazil, becoming the 47th member of IFC.

1957
1957	International events.	Gold Coast becomes independent of Britain and forms the state of Ghana, with Kwame Nkrumah as Prime Minister. Malaya becomes independent. Treaty of Rome establishes the European Economic Community. USSR launches first intercontinental ballistic missile, followed by the first satellites Sputnik I and Sputnik II, alarming the West and initiating the space race. International Atomic Energy Commission established in Vienna.
1957	.....	World Bank establishes Resident Mission in India.
1957	January 23	First funding for Iran: Loan 0160 - $75 million to provide short-term financing for Iran's Second Seven-year Development Plan.
1957	February 25	Announcement made of the death of Kyriakos Varvaressos, one of the first Executive Directors of the Bank, and who served in the Economic Department and as Economic Adviser on the Economic Staff.
1957	February 28	First mission to Argentina arrives in Buenos Aires. Mission to study the general economic situation, the government's investment plans, and the agriculture, transportation and power sectors.
1957	April 1	Far East Department of Operations formed, with Martin Rosen director, and Ian P. M. Cargill assistant director. Bernard Chadenet will succeed Rosen as Assistant Director Technical Operations.
1957	April 3	IFC Articles of Agreement signed by South Africa, becoming the 48th member of IFC.
1957	April 15	IFC Articles of Agreement signed by Chile, becoming the 49th member of IFC.
1957	May 6	President Eugene Black takes first trip to Japan, Formosa, and the Philippines, accompanied by Martin Rosen, and others.
1957	May 6	Indus Waters negotiations extended until September 30, 1957.
1957	June 20	IFC makes first investment - $2 million in Siemens do Brasil to expand manufacturing.
1957	June 26	First funding for Burundi: Road and Port Project.
1957	July 28	Report of general survey mission to Jordan published.
1957	August 2	Bank and Italy sponsor study expected to lead to construction of large nuclear power station.
1957	August 8	IBRD Articles of Agreement signed by Ireland, becoming the 61st member of the Bank.
1957	August 12	IFC Articles of Agreement signed by Philippines, becoming the 50th member of IFC.
1957	August 26	IBRD Articles of Agreement signed by Saudi Arabia, becoming the 62nd member of the Bank.
1957	September 5	IBRD Articles of Agreement signed by Sudan, becoming the 63rd member of the Bank.
1957	September 6	IFC Articles of Agreement signed by Cuba, becoming the 51st member of IFC.
1957	September 11	IFC makes first investment in a non-manufacturing enterprise: $600,000 in Bristol de Mexico.
1957	September 20	IBRD Articles of Agreement signed by Ghana, becoming the 64th member of the Bank.
1957	September 23	Twelfth annual meeting opens at Sheraton Park Hotel in Washington, DC.
1957	September 23	IFC Articles of Agreement signed by Afghanistan, becoming the 52nd member of IFC.
1957	September 26	IFC Articles of Agreement signed by Greece, becoming the 53rd member of IFC.
1957	October 14	William Diamond's Development Banks published (first EDI publication).
1957	November 6	Eugene Black announces that he will visit Cairo at the request of the Egyptian government to discuss the use of the Bank's services in connection with the problem of agreeing on compensation for the nationalization of the Universal Suez Canal Company.
1957	November 22	First funding for Philippines: Loan 0183 - Binga Power Project.
1957	November 26	Announcement made to staff: "Questions have been asked about exchange of Christmas cards among staff members. The management of the Bank and Corporation wish to make two points clear: No staff member need feel under obligation to send Christmas cards to other staff members. Those who wish to send cards to other staff members should not send them to their offices. In past years Christmas mail has imposed a very heavy workload on the Mail Room."
1957	November 27	$40 million loan to Belgian Congo for road construction.

1958
1958	International events	Federation of the West Indies goes into effect (to 1961). United Arab Republic proclaimed as a loose federation between Egypt and Syria, with Nasser as President. The federation collapses in 1961 when Syria withdraws. French government's Algerian policy leads to the downfall of the Fourth Republic in France. Charles de Gaulle comes to power as head of the Fifth Republic. He offers French African colonies the choice of immediate independence with loss of French aid and cultural ties, or membership in on-going French Community. Only Guinea opts for independence. Dictator Marcos Perez Jimenez is overthrown in Venezuela, and democratic government is restored. Mao launches the "Great Leap Forward" in China in an effort to speed up industrialization. In Iraq a revolution overthrows the monarchy and installs a left-wing regime under Brigadier Qasim. US troops intervene in Lebanon to prevent civil war. Dr. Hastings Banda returns to Nyasaland to lead African nationalist movement against the Central African Federation.
1958	January 13	World Bank begins its tenth annual General Training Program for young nationals from member countries to study the operations of the Bank and its methods of dealing with economic development problems. 82 participants from 51 member countries have participated to date.
1958	January 31	First EDI field trip: to Mexico, to visit industrial, agricultural, and financial institutions.
1958	March 6	President Eugene Black begins a one-month trip to Belgian Congo, Union of South Africa, Southern Rhodesia, Northern Rhodesia, Tanganyika, Kenya, Uganda, and Sudan.
1958	March 7	IBRD Articles of Agreement signed by Malaya, becoming the 65th member of the Bank.
1958	March 20	IFC Articles of Agreement signed by Malaya, becoming the 54th member of IFC.
1958	March 28	Discussions held concerning compensation of Suez Canal Company shareholders. Bank representatives include W. A. B. Iliff, Ellsworth Clark, George Woods, and others.
1958	April 3	IFC Articles of Agreement signed by Ghana, becoming the 55th member of IFC.
1958	April 14	IBRD Articles of Agreement signed by Tunisia, becoming the 66th member of the Bank.
1958	April 25	IBRD Articles of Agreement signed by Morocco, becoming the 67th member of the Bank.
1958	April 29	Preliminary agreements on compensation of Suez stockholders signed in Rome. Final agreements to be signed at a later date.
1958	May 2	First funding for Nigeria: Loan 0193 – Railway Development Project.
1958	May 29	Jan Tinbergen's The Design of Development published.
1958	June 25	Joint IBRD and FAO Agricultural Survey mission to Peru begins work in Lima.
1958	July 7	IFC makes first investment in Asia: $630,000 in Steel corporation of Pakistan, Ltd.
1958	July 14	Final Suez Canal compensation agreement signed in Geneva.
1958	July 18	Egypt and Syria join together to form a single membership known as United Arab Republic (bringing total IBRD membership to 66).
1958	July 21	First funding for Sudan: Loan 0202 – Expansion of Railways and Water Transport Facilities Project.
1958	July 31	Indus Waters negotiations adjourned temporarily to examine the engineering plan prepared by the Pakistan delegation.
1958	August 25 - 27	Following a deterioration in India's balance of payments, the first meeting of India aid consortium was held in Washington, D.C.
1958	September 11	IFC Articles of Agreement signed by Ireland, becoming the 56th member of IFC.
1958	September 15	IBRD Articles of Agreement signed by Spain, becoming the 67th member of the Bank.
1958	September 17	IBRD Articles of Agreement signed by Libya, becoming the 68th member of the Bank.
1958	September 18	IFC Articles of Agreement signed by Libya, becoming the 57th member of IFC.
1958	September 22	First funding for Malaysia: Loan 0210 – Cameron Highlands Hydroelectric Power Project.
1958	October 7	Annual meetings convene at the Vigyan Bhavan Palace in New Delhi (Board of Governors asks that consideration be given to increase in Bank's capital; IDA discussed.)
1958	November 4	Debt Service Capacity and Postwar Growth in International Indebtedness, by Dragoslav Avramovic, published by the Johns Hopkins Press.

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World Bank Historical Chronology: 1950-1959