Black, Eugene Robert

Black, Eugene Robert,

1898–1992, American financier, b. Atlanta, grad. Univ. of Georgia (B.A., 1917). After serving in the navy during World War I and working at the investment firm Harris, Forbes, & Co., he joined (1993) Chase National Bank as a vice president, becoming senior vice president in 1937. In 1947 he became U.S. executive director at the World Bank (International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
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), and two years later its president (1949–62). Under his leadership, the bank's membership expanded from 48 to 80 member nations, and its capitalization grew from $8.3 billion to $20.5 billion. He was also responsible for the establishment of two associated agencies, the International Finance Corporation (1956), which invests in private enterprises, and the International Development Association (1960), which extends credit to developing nations. Following his term at the World Bank, he was chairman of the Brookings Institution (1962–68) and served as an adviser to President Lyndon Johnson on Southeast Asia.
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