Editorial Note
On June 5, 1952, the Export–Import Bank authorized the following three credits: (1) $41.14 million to seven subsidiaries of the Brazilian Electric Power Company for the purpose of financing, with minor exceptions, purchase in the United States of materials and services in connection with a project for the expansion of electrical power in Brazil; (2) $8.6 million to the Santos a Jundiai Railway to finance the purchase of railway equipment; and (3) $7 million to the Paulista Railway also to finance the purchase of railway equipment. For additional information on these credits, see Export–Import Bank of Washington, Fourteenth Semiannual Report to Congress (Washington, 1952), pages 15–18.
On June 27, 1952, the International Bank for Reconstruction and Development authorized the following two loans: (1) $25 million to the Comissão Estadual de Energia Elétrica of the State of Rio Grande do Sul to assist in financing the development of an electric power program; and (2) $12.5 million to the Brazilian Government to finance [Page 585] the purchase of equipment in the United States for the rehabilitation of the Central do Brasil Railroad. For further information, see International Bank for Reconstruction and Development, Seventh Annual Report to the Board of Governors 1951–1952 (Washington, 1952), pages 26–28.
On July 3, 1952, the Export–Import Bank authorized a credit of $5 million in favor of the State of Minas Gerais to finance the purchase of agricultural equipment in the United States for resale to Brazilian farmers through regular commercial channels.
On September 4, 1952, the Export–Import Bank authorized a credit of $67.5 million to the Industria e Comercio de Minerios, S. A., a joint United States-Brazilian owned corporation, to assist in financing the production of manganese ore from deposits in the Federal Territory of Amapa in Northern Brazil.
On October 10, 1952, the Export–Import Bank authorized the following two credits: (1) $18 million to the Banco Nacional do Desenvolvimento (National Economic Development Bank) to finance the purchase of agricultural equipment in the United States for resale to Brazilian farmers through regular commercial channels; and (2) $1.86 million to the Cia. Metalurgica Barbara to finance purchase in the United States of the supplies and equipment needed in connection with expansion of the company’s existing facilities in the State of São Paulo for the production of cast-iron pipe. See minutes of the National Advisory Council meeting, October 10, 1952, page 595.
On December 24, 1952, the Export–Import Bank authorized a loan of $7.5 million to the Companhia Vale de Rio Doce, S. A., to assist in financing the purchase of locomotives in the United States.
For additional information on the Export–Import Bank loans of July 3, September 4, October 10, and December 24, 1952, see Export–Import Bank of Washington, Fifteenth Semiannual Report to Congress (Washington, 1953), pages 8–11.
On April 30, 1953, the International Bank for Reconstruction and Development authorized a loan of $3 million to the State of Rio de Janeiro to finance the purchase of equipment in the United States required for maintenance and construction of highways. For additional information, see International Bank for Reconstruction and Development, Eighth Annual Report to the Board of Governors 1952–1953 (Washington, 1953), page 8.
On June 3, 1953, the Export–Import Bank authorized a credit not to exceed $2.5 million to the Companhia Brasileira de Estireno to assist in financing the purchase of materials and services in the United States required for construction of a plant for the production of styrene monomer, used in the making of plastic. For information on this loan, see Export–Import Bank of Washington, Sixteenth Annual Report to Congress (Washington, 1953), page 8.
[Page 586]On July 17, 1953, the International Bank for Reconstruction and Development authorized a loan of $7.3 million to the State of Minas Gerais to finance purchase in the United States of equipment and services for electric power development. For additional information, see International Bank for Reconstruction and Development, Supplement to the Eighth Annual Report (Washington, 1954), page 3.
On December 18, 1953, the International Bank for Reconstruction and Development authorized the following two loans: (1) $12.5 million to the Government of Brazil to finance improvements in the surburban service of the Central do Brasil Railroad in Rio de Janeiro; and (2) $10 million to Usinas Elétricas de Parapanema, S. A. (USINAS) to finance the development of hydroelectric power in the State of São Paulo. For additional information on these loans, see ibid., pages 3–4.
On February 24, 1954, the International Bank for Reconstruction and Development authorized a loan of $18.79 million to the Brazilian Traction, Light and Power Company to finance the purchase of equipment and services in the United States required in connection with a thermal-electric power project at Piratininga near São Paulo (398.14/3–254).
On June 17, 1954, the Export–Import Bank authorized a loan of $15 million to the Banco do Brasil to assist in financing the purchase of approximately 200,000 tons of wheat through private trade channels in the United States. For further information, see Export–Import Bank of Washington, Eighteenth Semiannual Report to Congress (Washington, 1954), pages 11–12.
On November 26, 1954, the Export–Import Bank authorized a credit of $1.5 million to the Fongra Produtos Quimicos, S. A., to finance the purchase of equipment in the United States for a new chemical plant under construction in the São Paulo area. For additional information, see Export–Import Bank of Washington, Nineteenth Semiannual Report to Congress (Washington, 1955), page 7.