Abstract
The International Bank for Reconstruction and Development was the first international organization created with the main purpose of making available world-wide loans to Governments and, under governmental guarantee, to private persons such as to business, industrial and agricultural enterprises in the territories of its member States. Although during the twenties some States such as Austria, Hungary and Greece had obtained international loans through the initiative of the League of Nations,1 the League was never an organ of international lending and did not itself make loans to any State. It only acted as an intermediary for the preparation, emission and execution of these loans. The International Bank was established especially to fill this gap.
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References
For these loans see Carmoy, de G., Les organisations èconomiques internationales, Paris, p. 61; Cosoiu, C., Le rôle de la S.d.N. en matière d’emprunts d’Etat, Paris, 1934; St. Germes, de J., La Sociètè des Nations et les emprunts internationals, Paris; Sir J. Fischer Williams, Chapters on Current International Law and the League of Nations, London, 1929; Salmon, J., Le Rôle des Organizations Internationales en Matière de Prêts et d’Emprunts, Stevens a Sons, London, 1958, pp. 64–67, 202-213.
On this point see Hexner, E. P., “Worldwide International Economic Institutions: A Factual Review,” California Law Review, Vol. 61, 1961, p. 354.
For this point see Shonfield, A., The Attack on World Poverty, Chatto & Windus, London 1960, pp. 93–94.
See Enke & Salera, International Economics, Dennis Dobson, London, 1958, pp. 534–535.
See Olmstead, C. J., “Economic Development Loan Agreements,” California Law Review, Vol. 48, No. 3, August 1960, p. 424.
For this aspect see also Adam, H. T., “Les accords de prêt de la Banque Internationale pour la Reconstruction et le Dèveloppement,” Revue Gènèrale de Droit International Public, 1951, Vol. 55, No. 1, pp. 42–43 and 47-48; also Salmon, op. cit., pp. 81-82.
See Kindleberger, G. P., “Bretton Woods Reappraised,” International Organization, Vol. 5, 1951, see page 45.
See above p. 16. For a detailed study of these banks see Boskey, S., Problems and Practices of Development Banks, 1959, The Johns Hopkins Press, Baltimore.
See Broches, A. (General Counsel of IBRD and IDA), “International Legal Aspects of the Operations of the World Bank,” Recueil desCours, 1959, Vol. 98 (301–408); see pp. 309-310.
The Fund and IFC have the same power. For a detailed study see Gold, J., “The interpretation by IMF of its Articles of Agreement,” The International and Comparative Law Quarterly, 1954, Vol. 3, pp. 256–276; and Hexner, “Interpretation by International Organizations of their Basic Instruments,” AJIL, Vol. 53, pp. 341-354.
Broches, (General Counsel of IBRD), “International Legal Aspects of the Operations of the World Bank,” Recueil des Cours, 1959, Vol. 98, see chapter III and V; Sommers, D. (formerly General Counsel of IBRD), Broches, A. and Delaume, G. R. (Attorney of IBRD), “Conflict Avoidance in International Loans and Monetary Agreements,” Law and Contemporary Problems, 1956, Vol. 21, p. 463, see 476-478
Broches, A. and Boskey, S. (Member of the Technical Assistance and Liaison Staff of IBRD), “Theory and practice of Treaty Registration, with particular reference to Agreements of the International Bank,” Nederlands Tijdschrift voor Internationaal Recht, 1957, Vol. IV, p. 159, see pp. 186-192
Delaume, G. R., “Gold and Currency Clauses in Contemporary International Loans,” American Journal of Comparative Law, 1960, Vol. 9, p. 199, see pp. 204-208.
Adam, H. T., “Les accords de prêt de la BIRD,” Revue Gènèrale de Droit International Public, 1951, Vol. 22, p. 41; Jenks, C. W., The Proper Law of International Organizations, 1962, op. cit., see Chapter 19, pp. 178-183; Mann, F. A., “The Proper Law of Contracts concluded by International Persons,” BYIL, 1959, p. 34, see pp. 38-40
Olmstead, C. J., “Economic Development Loan Agreements,” California Law Review, 1960, Vol. 48, p. 424, see 426-434; Salmon, op. cit., see Chapter 4, pp. 223-272, and “Les contrats de la BIRD,” Annuaire Français de Droit International 1956, p. 635
Sereni, A. P., “International Economic Institutions and the Municipal Law of States,” Recueil des Cours, 1959, Vol. 96, p. 133, see pp. 205-207.
The “Cahier des Charges” is used by the French administration for concluding contracts in the field of public services. It is a document approved by the minister concerned, and contains a series of articles and conditions applicable to all or part of contracts to be concluded by this ministry. For the explanation of the concept see also Street, H., Governmental Liability, a Comparative Study, 1953, Cambridge University Press, pp. 81-84; and Dalloz, Encyclopèdie Juridique, Rèpertoire de Droit Public et Administratif, Vol. II, pp. 347–350, Paris, 1959.
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Kirdar, Ü. (1966). The International Bank for Reconstruction and Development. In: The Structure of United Nations Economic-Aid to Underdeveloped Countries. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-7537-9_8
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DOI: https://doi.org/10.1007/978-94-015-7537-9_8
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