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In the mid-1960s, Portugal took five loans from the World Bank for the development of its electric sector. Although they were just a small part of the total Portuguese borrowing at the World Bank, these five loans played an important role in the development of the Portuguese electric sector. They helped to avoid any interruption in the development of the Portuguese electric sector at a time when the country experienced a financial crisis due to the impact of the colonial war. They also helped to shape the characteristics of its pro- ductive structure, to improve management techniques of the in- volved firms and to open international capital markets to the Portuguese firms of the sector.
