What happened May 1947 AD

On 8 May, France became the first country to borrow from it.

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.

On May 11, a regional commission in Palermo warned Luciano to stay out of trouble and released him.

On 8 May, France became the first country to borrow from it.

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.

On May 11, a regional commission in Palermo warned Luciano to stay out of trouble and released him.