World Bank - First country to receive a World Bank loan
Time: Friday May 9, 1947
Place: France
Details: The first country to receive a World Bank loan was France. The Bank's president at the time, John McCloy, chose France over two other applicants, Poland and Chile. The loan was for US$250 million, half the amount requested, and it came with strict conditions. France had to agree to produce a balanced budget and give priority of debt repayment to the World Bank over other governments.
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May 1947
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