Eugene Black Biography and Timeline

World Bank Studies High Dam Loan Structure

Under Eugene Black, the World Bank examined possible financing arrangements for the costly Aswan project alongside Western government aid.

Role range: 1955-1958

World Bank Financing Negotiations

Black negotiates proposed World Bank participation in financing the High Dam.

Role range: 1949-1962

World Bank Funding Discussions Progress

Eugene Black negotiated potential World Bank participation in an international financing package for the High Dam.

World Bank Evaluates Egypt Repayment Capacity

World Bank officials studied the ability of Egypt's economy to absorb debt and manage the large requirements of a High Dam investment.

Role range: 1955-1958

Bank Loan Depends on Additional Government Grants

The World Bank financing plan depended on accompanying American and British grant support rather than a standalone Bank loan.

Role range: 1955-1958

Bank Financing Remains Conditional on Aid Partners

The World Bank did not have a completed independent financing arrangement because its contribution relied on outside government grants.

Role range: 1955-1958

World Bank High Dam Package Collapses

The Bank's proposed financing could not proceed as structured after the United States and Britain withdrew the supporting grant offers.

Role range: 1955-1958

Bank Relationship Suffers From Funding Collapse

The World Bank's failed Aswan financing initiative left lasting distrust in Egypt about the institution's independence from major shareholders.

Role range: 1955-1958