Financial Report for the year 19 62

Abstract

The Eighth .F'inancial Heport of the High Authority of the European Coal and Steel Community relates to the calendar year 1962, the tenth year of its operations. As described in detail in this Report, in 1962 the financial activity of the High Authority was especially marked by the following: -the rate of the levy was again reduced, making it the lowest rate applied .since the inception of the Community; -borrowing operations again increased over the previous year due to the im-provement of the European capital markets; -the creation of new production facilities outside the coal and steel industries was fostered in order to provide new jobs for workers released from the mines, and there was also a considerable increase in lending for the financing of projects within the coal and steel industries; · -a fifth program for the years 1963 through 1965 was instituted for the :financing of housing for workers of the coal and steel industries.