Abstract
A net profit of $3,162,980 was reported by the International Bank for Reconstruction and Development for the quarter ending September 30, 1949. This compared with a net profit of $2,317,723 for the first quarter of the preceding fiscal year. The net profit brought the total net excess of income over expenses since the Bank began operations to $16,804,074, exclusive of $9,409,734 accumulated in the Special Reserve Fund. Disbursements on loans during the quarter amounted to $15,149,903, making a total of loan disbursements to September 30, 1949 of $541,440,917 and there remained $136,159,083 to be disbursed on loans then in effect. During this time Denmark became the fourth country to make available for lending purposes a part of its 18 per cent currency subscription.
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