Norman M. Tucker, Director of Marketing of the Bank, Is Visiting El Salvador on March 6, 1950

•• FOR TBE PRESS INTEBNATIOMAL l3AN~ FOR ·BECONS'l'RUC~ION AND DEVELOP~ FOR I~tAT:E $µ;ASE March 6, 1950 Norman M. Tucker·, Director of ~arketi~g of the Inter·national Be.rik for Recoriatruction and Develop~~~t, is leaving tod1;1.y for El Salvador and wili arrive in S~n Salvador on M~roh 1. Mr. Tucker is going to Ei Salvador to g:i:ve }\is advice and assistance on- the marketing ot Salvado:ree.n colones bonds to· be issued by the Lempe. Bive;r BY<n-oelectr;l.c Commission of Ei Salvador~ On Dec~mber 14, i949, the International Bank granted a ioan of $i2,545,COO to the Commiseton fqr the development of electric • power resources on the Lempa Bi ver. lfi addition to the· fo;;·eign e~chan~e costs wh).ch the Int~rnationa.i Bank wiii finance, the project calls fot ari. expenqiti.¢e of approxi.mateiy 13;100,000 Salvadorean colonea equ:f,;vaieJ1t to about $5 ,~oo ,ooo. Theae loca1 currency cast~ will be financed by the vubiic saie in El Salvador of eolones bonds to be issued by the Comiliieaion • •