Announcement of Loan Application Received from French Government

JS' INTERNATIONAL BANK FOR RECONS1'RUCTION AND DEVELOPMENT FOR THE PRESS FOR IMMEDIATE RELEASE No.· 15 October 21~ 1946 Eugene Meyer, President of the International Bank for Reconstruction and Development, announced today that the Bank had received an application from the Goverrunent of France for a loan of $500,000,000,.to be advanced during the year 1947. The application requested that the loan be made to the Credit National, to be guaranteed by the French Government. The stated purpose of the loan is to meet the cost of purchasing ana importing into France certain equipment and materials required as part of a general plan of reconstruction and modernization.