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International Bank (Sterling Loan)

Volume 531: debated on Thursday 29 July 1954

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63.

asked the Chancellor of the Exchequer the purpose of the sterling loan recently raised by the International Bank for Reconstruction and Development on the London market.

The purpose of the loan of £5 million which the International Bank is now raising on the London market is to provide the Bank with sterling for lending to borrowers outside the sterling Commonwealth.