ECSC financial report for the year 1960

Abstract

The Sixth Financial Report of the High Authority of the European Coal and Steel Community covers the calendar year 1960, this being its eighth year of operation. In order to achieve a better coordination of duties the former 10 Divisions of the High Authority were regrouped into 7 Departments {directions generales) in February 1960. Among these a new Department of Loans and Investments, consisting of a Credit Division and an Investment Division, has been created. The Investment Division is responsible for all questions concerning the invest-ment activities of the Enterprises of the Community in accordance with the provisions of the Treaty establishing the Community. The Credit Division has been entrusted with the execution of all borrowing, lend-ing and guaranty operations and with the management of the funds of the High Authority. In this capacity it is carrying on the traditions of the former Finance Division to which-inter alia-also belonged the annual reporting on financial matters for the information of Government Agencies, lenders to the High Author-ity and others interested in international finance.