The International Bank for Reconstruction and Development announced today that it is sending a mission to Japan, at the request of the Japanese Government. The Bank recently made loans of $40.2 million for the construction of three thermal electric power plants in Japan.
The mission expects to arrive in Tokyo on November 12 and will remain in Japan for about four weeks. It will be similar in purpose to other missions which the Bank has sent from time to time to various member countries. It will seek to further acquaint the Bank with Japan's economic and financial problems and policies, particularly those which affect the country's balance of international payments and her ability to finance investments essential for rebuilding and development and to identify those sectors of the economy which are of the greatest importance to the attainment of a self-sustaining position.
The mission will be headed by Russell H. Dorr of the Bank’s Department of Operations for Asia and the Middle East, and will include John C. de Wilde, Economic Adviser to the Asia and Middle East Department, and R. B. J. Richards, of the Bank's legal staff. Chester H. Case, an executive of the Kaiser Engineering Co. of Oakland, California, will act as industrial consultant to the mission.