| Deal Description | The European Coal and Steel Community used the proceeds from this transaction to make loans to coal and steel enterprises. It was expected that such proceeds would be used principally to finance a part of the cost of projects for the modernization and improvement of coal production facilities, the expansion and improvement of facilities for the mining and processing of iron ore, and the modernization, improvement, and enlargement of installations in the iron and steel industry. It was also expected that some portion of the proceeds may have been used to make loans to concerns outside the coal and steel industries in order to finance, in part, the construction of new manufacturing facilities and other projects in the community, which were so located as to provide productive employment for coal miners released from the mines. |
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