The loan (0155) from the World Bank for the Qantas Empire Airways Modernization Project amounted to $9,230,000 and was signed on November 15, 1956. At that time Qantas was undertaking large expenditure in order to cope with traffic growth, maintain its competitive position, and improve its earning power. The project was aimed at assisting Qantas Airways in carrying out its re-equipment and expansion program. The major components of the project were...
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