IDA-Financial-Statements-June-1988.pdf - Pubdocs ...

THE WVORLD BANKANNUAL REPORT 1988

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177

Financial Statements of the InternationalDevelopment Association, the Special FundAdministered by IDA, and the Special Facilityfor Sub-Saharan Africa Administered by IDA

Statements of Commitment Resources 178

Statements of Changes in Liquid Funds 181

Statements of Condition 182

Summary Statement of Development Credits 184

Statement of Voting Power, and Subscriptions and Contributions 187

Notes to Financial Statements 190

Report of Independent Accountants 193

178 IDA, Special Fund, and African Facility Financial Statements

Statements of Commitment Resources

For the fiscal years ended June 30, 1988 and June 30, 1987Expressed in thousands of US dollars

Changes in Commitment IDA Special Fund African FacilityResources 1988 1987 1988 1987 1988 1987

CHANGES IN COMMITMENT AUTHORITYCurrent period transactions:

Subscriptions and contributions ........... ....... $4,521,511 $2,438,986 $ 17,754 $195,814Transfers from IBRD-Note G .. .................... 100,000 280,700 - -Income from operations available for

commitment ................................ - - 11,585 9,743

4,621,511 2,719,686 29,339 205,557Less development credits approved ................. 4,458,710 3,485,350 112,600 421,400

Effect of current period transactions on resourcesavailable for commitment ......... ............ 162,801 (765,664) (83,261) (215,843)

Translation adjustments affectingcommitment authority ........................... (44,519) 160,179 (20,478) 74,563

Increase (decrease) in commitment authority .... I ....... 118,282 (605,485) (103,739) (141,280)Commitment authority, beginning of fiscal year ..... ..... (296,608) 308,877 141,155 282,435

Commitment authority, end of fiscal year .... $ (178,326) $ (296,608) $ 37,416 $141,155

CHANGES TO FULLY COMMITTED REPLENISHMENTS,Current period allocations:

Cancellations of development credits ................ $ 153,479 $ 294,334Repayments of development credits . .... ..... 159,447 137,326Grant participations in development credits ........... (4,376) 11,346Income from operations not available for commitment... . 154,824 52,563 $ 5,932 $ 4,854

Total current period allocations . ........... 463,374 495,569 5,932 4,854Translation adjustments on resources under fully committed

replenishments . ............. .... (140,670) 259,708 (2,076) 13,860

Increase in resources under fully committed replenishments 322,704 755,277 3,856 18,714Surplus (deficit) in resources under fully committed

replenishments, beginning of fiscal year . ........ 60,065 (695,212) 28,087 9,373

Surplus In resources under fully committedreplenishments, end of fiscal year ..... .... $ 382,769 $ 60,065 $31,943 $28,087

COMMITMENT RESOURCESCommitment authority, end of fiscal year ............. $ (178,326) $ (296,608) - - $ 37,416 $141,155Surplus in resources under fully committed

replenishments, end of fiscal year ....... ......... 382,769 60,065 $31,943 $28,087 - -

Total commitment resources ....... ......... $ 204,443 $ (236,543) $31,943 $28,087 $ 37,416 $141,155

Commitment Resources 179

a. Surpluses and deficits in resources under fully committed replenishments are primarily attributable to exchange rate fluctuations in value, in terms ofcurrent US dollars, of resources expressed in currencies other than US dollars. The value of these resources at any given time may be greater or less thanthe development credits committed against them, since these development credits are denominated in US dollars or SDRs.IDA reviews periodically the resource posftion under fully committed replenishments and, if necessary, allocates portions of the resources that becomeavailable for commitment during the period to those replenishments. For IDA, these allocations will include income from operations until it equals thecumulative losses from operations for the period July 1,1979 to December 31,1984, totaling $353,815,000. Losses incurred during that period were notreduced from commitment authority in accordance with the decision of the Executive Directors that IDA's commitment authority not be reduced by theamount of deficits during the sixth replenishment period. The decision reflected the expectation that future income would be available to reduce theselosses. All income earned subsequent to that period, amounting to $262,936,000 at June 30, 1988, has been allocated for this purpose.

Composition of Commitment ResourcesIDA Special Fund African Facility

1988 1987 1988 1987 1988 1987

Liquid funds ............................. . $ 1,233,202 $ 977,425 $ 64,748 $ 64,483 $107,831 $ 61,406

Cash not immediately available for disbursement-Note A ............................... . 184,817 211,310

Receivables on account of subscriptions andcontributions ........ ................... 22,330,292 13,195,379 327,893 371,454 115,247 484,206

Subscriptions and contributions not yet available forcommitment ........................... . (8,103,696) (352,469)

Receivables from International Bank for Reconstructionand Development-Note G ....... ............ 773,291 720,108 150,000 150,000

Other assets ....... ...................... 156,974 139,977 274 399 242 263

Less undisbursed credits, accounts payable and otherliabilities ................................ (16,370,437) (15,128,273) (360,972) (408,249) (335,904) (554,720)Total commitment resources ..... .... $ 204,443 $ (236,543) $ 31,943 $ 28,087 $ 37,416 $ 141,155

See Notes to Financial Statements.

Changes in Liquid Funds 181

Statements of Changesin Liquid FundsFor the fiscal years ended June 30, 1988 and June 30, 1987Expressed in thousands of US dollars

IDA Special Fund African Facility

1988 1987 1988 1987 1988 1987

SOURCES OF LIQUID FUNDSOperations:

Income from development credits-Note C:Service charges ....... . . . . . $ 246,480 $ 212,694Commitment fees .... .. . ..... . 64,959 56,464

Less management fee to IBRD-Note H . . . 263,400 332,046

Income from development credits lessmanagement fee .. . ...... .... 48,039 (62,888)

Income from investments .109,354 115,451 $ 5,932 $ 4,854 $ 11,585 $ 9,743Less amortization of subscription advances 2,569 -

Operating income .154,824 52,563 5,932 4,854 11,585 9,743Non-cash items .(39,902) 9,222 125 (350) 21 (136)

Liquid funds from operations .114,922 61,785 6,057 4,504 11,606 9,607

Drawdown of subscriptions and contributions . . 3,337,566 2,727,017 51,635 47,520 386,156 371,690Drawdown of transfers from IBRD . .... .. - 100,000 - -Grant participations in development credits . . (4,376) 11,346Repayments of development credits 159,447 137,326 - - -

Total sources of liquid funds. 3,607,559 3,037,474 57,692 52,024 397,762 381,297

USES OF LIQUID FUNDSDevelopment credit disbursements. 3,339,203 3,034,890 57,585 53,401 350,984 378,558

Effect of current periodtransactions on liquid funds . . . 268,356 2,584 107 (1,377) 46,778 2,739

TRANSLATION ADJUSTMENTS . . . . . . . . . (12,579) 53,649 158 2,063 (353) 1,509

Increase in liquid funds .255,777 56,233 265 686 46,425 4,248Liquid funds, beginning of fiscal year 977,425 921,192 64,483 63,797 61,406 57,158

Liquid funds, end of fiscal year . . . $1,233,202 $ 977,425 $64748 $64,483 $107,831 $ 61,406



Statements of Condition

June 30, 1988 and June 30, 1987Expressed in thousands of US dollars

IDA Special Fund African Facility

Assets 1988 1987 1988 1987 1988 1987

Unrestricted assets

LIQUID FUNDSCash available for disbursements:

Non-interest-bearing demand deposits ............ $ 14,416 $ 9,187 $ 275 $ 2,591 $ 9,854 $ 7,802Interest-bearing demand deposits ............... 17,861 44,686 3,517 - 2,356 -

Investments:Obligations of governments and their instrumentalities 496,043 499,111 2,533 9,973 22,444 9,611Obligations of banks and financial institutions ...... 835,499 498,778 58,423 51,919 73,177 43,993

Receivable for investment securities sold ........... 41,380 139,842 - - - -

Payable for investment securities purchased ........ (171,997) (214,179) - - - -

1,233,202 977,425 64,748 64,483 107,831 61,406CASH NOT IMMEDIATELY AVAILABLE FOR

DISBURSEMENT-Note A . ............ 184,817 211,310

CASH COLLATERAL INVESTED . . 37,354 -

RECEIVABLES ON ACCOUNT OF SUBSCRIPTIONS ANDCONTRIBUTIONSNon-negotiable, non-interest-bearing demand obligations 14,612,984 11,776,837 327,893 371,454 115,247 363,903Subscriptions and contributions-Note F:

Amounts due ............................. 133,431 179,455 - -

Amounts not yet due . .............. 7,583,877 1,239,087 _ _ 120,303

22,330,292 13,195,379 327,893 371,454 115,247 484,206RECEIVABLES FROM INTERNATIONAL BANK FOR

RECONSTRUCTION AND DEVELOPMENT-Note G .... 773,291 720,108 150,000 150,000

DEVELOPMENT CREDITS OUTSTANDING (see SummaryStatement of Development Credits)Total development credits .......... ............ 49,082,916 44,434,339Less undisbursed balance . ............. 16,274,159 15,007,820

32,808,757 29,426,519SPECIAL FUND CREDITS OUTSTANDING (see Summary

Statement of Development Credits and Note C)Total Special Fund credits ...................... 608,398 593,270Less undisbursed balance . ............ 360,972 407,881

247,426 185,389AFRICAN FACILITY CREDITS OUTSTANDING (see

Summary Statement of Development Credits andNote C)

Total African Facility credits ..................... 1,200,650 1,059,862Less undisbursed balance . ............ 335,874 554,465

864,776 505,397OTHER ASSETS

Accrued charges on development credits ........... 95,726 92,724Accrued interest on investments ................. 18,433 15,545 274 399 242 263Amounts required to maintain value of currency

holdings-Note D .......................... 100 103Miscellaneous-primarily advances for project

preparation facilities . ............. 42,715 31,605

156,974 139,977 274 399 242 263

Total unrestricted assets ................. 58,636,889 45,361,504 392,915 436,336 373,320 695,875Restricted assets on account of

subscriptions-Note B ........ .......... 262,694 226,531

Total assets ................... ...... $58,899,583 $45,588,035 $392,915 $436,336 $373,320 $695,875

Statements of Condition 183

IDA Special Fund African FacilitySources of Assets 1988 1987 1988 1987 1988 1987

Unrestricted sources

ACCOUNTS PAYABLE AND OTHERLIABILITIES (for IDA this includes payableto IBRD for management fee of$87,765-1988, $115,365-1987) ......... ... $ 96,278 $ 120,453 $ - $ 368 $ 30 $ 255

PAYABLE FOR CASH COLLATERAL RECEIVED .. . 37,354 -

SUBSCRIPTIONS AND CONTRIBUTIONS(see Statement of Voting Power, and Subscriptions

and Contributions and Note F) ....... ....... 53,367,708 40,915,348

CONTRIBUTIONS TO SPECIAL FUND(see Statement of Voting Power, and Subscriptions

and Contributions and Note F)Total . .. 581,260 572,818Disbursed ... 216,836 159,251 (216,836) (159,251)Undisbursed . .364,424 413,567

CONTRIBUTIONS TO AFRICAN FACILITY(see Statement of Voting Power, and Subscriptions

and Contributions and Note F)Total 1,024,482 1,007,061Disbursed ................. ............ 831,179 480,196 (831,179) (480,196)Undisbursed 193,303 526,865

CONTRIBUTION BY SWITZERLAND-Note E ........ 51,173 51,173

TRANSFERS FROM INTERNATIONAL BANK FORRECONSTRUCTION ANDDEVELOPMENT-Note G .................. 2,487,466 2,434,283 150,000 150,000

ACCUMULATED (DEFICIT) SURPWS ...... ....... (92,460) (234,702) 28,491 22,401 29,987 18,755

CUMULATIVE TRANSLATION ADJUSTMENTS ONDISBURSED DEVELOPMENT CREDITS:IDA ................................ 1,577,168 1,384,163Special Fund ............................ 30,590 26,138African Facility .... ...................... 33,597 25,201

1,641,355 1,435,502 _

Total unrestricted sources ...... ...... 58,636,889 45,361,504 392,915 436,336 373,320 695,875

Restricted subscriptions-Note B ........ 262,694 226,531Total sources of assets ....... ........ $58,899,583 $45,588,035 $ 392,915 $436,336 $ 373,320 $ 695,875



Summary Statement ofDevelopment CreditsJune 30, 1988 and June 30, 1987Expressed in thousands of US dollars

June30, 1988Total

IDA Special Fund African Facility PercentageofTotal Credits Total Credits Total Credits Total Credits credits

Borrower or guarantor credits' outstanding credits outstanding credits outstanding credits outstanding outstanding

Afghanistan .$ 79,623 $ 79,623 $ - $ - $ - $ - $ 79,623 $ 79,623 0.23Bangladesh .. . .... 4,436,818 2,985,054 27,130 - - - 4,463,948 2,985,054 8.80Benin .297,511 181,963 10,878 9,880 - - 308,389 191,843 0.57Bhutan .28,178 8,861 - - - - 28,178 8,861 0.03Bolivia ....... . 364,624 161,171 - - - - 364,624 161,171 0.48

Botswana ... ... 14,277 14,277 - - - - 14,277 14,277 0.04Burkina Faso .338,46 338,463 222,024 - - - - 338,463 222,024 0.65Burma .851,217 554,643 - - -.- 851,217 554,643 1.64Burundi. ...... . 450,822 235,256 - - 18,742 18,742 469,564 253,998 0.75Cameroon .241,729 239,491 - - - - 241,729 239,491 0.71

Cape Verde 18,480 6,230 - - - - 18,480 6,230 0.02Central African Republic .. 199,201 119,552 - - 18,349 18,349 217,550 137,901 0.41Chad .186,174 71,246 - - - - 186,174 71,246 0.21Chile .15,944 15,944 - - - - 15,944 15,944 0.05China .3,118,124 1,370,681 74,443 60,171 - - 3,192,567 1,430,852 4.22

Colombia .16,246 16,246 - - - - 16,246 16,246 0.05Comoros .46,37 46,373 31,940 - - - - 46,373 31,940 0.09Congo, People's

Republic of the 74,403 73,250 - - - - 74,403 73,250 0.22Costa Rica .3 873 3,873 3,873 - - - - 3,873 3,873 0.01Cote d'lvoire .7 125 7,125 7,125 - - - - 7,125 7,125 0.02

Djibouti .31,40 31,405 22,794 - - - - 31,405 22,794 0.07Dominica 12,058.......... 12 6,996 - - - - 12,058 6,996 0.02Dominican Republic 20,776 20,776 - - - - 20,776 20,776 0.06Ecuador .3,434 333,434 - - - 33,434 33,434 0.10Egypt, Arab Republic of . . 946,286 887,290 - - - - 946,286 887,290 2.62

El Salvador .24,52 24,520 24,520 - - - - 24,520 24,520 0.07Equatorial Guinea ..... 34,862 15,571 - 4,718 4,550 39,580 20,121 0.06Ethiopia 1,087,695... 1,087695 608,833 - - - - 1,087,695 608,833 1.79Gambia, The .89,38 89,387 55,857 - - 12,844 12,844 102,231 68,701 0.20Ghana .1,062,332 575,376 44,430 36,492 176,015 107,498 1,282,777 719,366 2.12Grenada .6,553 3,282 - - - - 6,553 3,282 0.01Guinea .496,174 213,396 - - 20,445 17,898 516,619 231,294 0.68Guinea-Bissau ..... .. 109,786 78,361 5,111 4,696 11,140 7,599 126,037 90,656 0.27Guyana .... ...... 48,641 35,118 - - - - 48,641 35,118 0.10Haiti .335,000 279,096 15,727 3,990 - - 350,727 283,086 0.83

Honduras .79,644 79,644 - - - - 79,644 79,644 0.23India .15,767,248 11,612,868 227,915 5,775 - - 15,995,163 11,618,643 34.25Indonesia .865,809 863,362 - - - - 865,809 863,362 2.55Jordan .79,920 79,920 - - - - 79,920 79,920 0.24Kenya .858,747 534,187 49,541 1,612 55,570 39,677 963,858 575,476 1.70

Korea, Republic of 103,238 103,238 - - - - 103,238 103,238 0.30Lao People's Democratic

Republic ..... . 101,745 49,953 - - - - 101,745 49,953 0.15Lesotho .145,587 82,634 - - - - 145,587 82,634 0.24Liberia .127,905 100,492 - - - - 127,905 100,492 0.30Madagascar .785,115 458,534 36,566 33,974 133,813 64,708 955,494 557,216 1.64

Statement of Development Credits 185

June 30, 1988Total

PercentageIDA Special Fund African Facility of

Total Credits Total Credits Total Credits Total Credits creditsBorrower or guarantor credits' outstanding credits outstanding credits outstanding credits outstanding outstanding

Malawi ............. $ 658,411 $ 429,590 $ 17,169 $ 11,223 $ 59,895 $ 59,827 $ 735,475 $ 500,640 1.48Maldives ...... ..... .8,772 7,072 - - - - 8,772 7,072 0.02Mali . ........ 547,157 339,386 13,971 9,110 9,305 - 570,433 348,496 1.03Mauritania . ...... 162,764 106,150 - - 28,047 20,970 190,811 127,120 0.37Mauritius ........... 19,290 19,290 - - - - 19,290 19,290 0.06

Morocco ............ 40,988 40,988 - - - 40,988 40,988 0.12Mozambique ......... 166,840 96,161 - - 19,004 11,722 185,844 107,883 0.32Nepal ....... ..... 874,009 435,863 - - - - 874,009 435,863 1.28Nicaragua ........... 59,948 59,946 - - - 59,948 59,946 0.18Niger ............. 442,457 243,689 - - 85,190 63,132 527,647 306,821 0.90

Nigeria . . . 31,682 31,682 - - - - 31,682 31,682 0 09Pakistan ............ 2,902,690 1,785,423 - - - - 2,902,690 1,785,423 5.26Papua New Guinea ..... 113,712 113,584 - - - - 113,712 113,584 0.33Paraguay ... . 43,661 43,661 - - - - 43,661 43,661 0.13Philippines . ........ 105,565 100,532 - - - - 105,565 100,532 0.30

Rwanda .. ..... 374,057 243,060 - - 29,489 11,149 403,546 254,209 0.75St. Vincent and the

Grenadines ......... 917 226 5,242 2,734 - - 6,159 2,960 0.01Sao Tome and Principe. . . 19,004 6,703 - - 3,014 709 22,018 7,412 0.02Senegal . ....... 639,620 414,145 23,198 21,955 93,578 91,078 756,396 527,178 1.55Sierra Leone ......... 126,818 77,072 - - - - 126,818 77,072 0.23

Solomon Islands ....... 20,183 9,917 - - - - 20,183 9,917 0.03Somalia ... . ...... 368,828 272,116 - - 37,615 32,165 406,443 304,281 0.90Sri Lanka .... ..... 1,129,055 617,996 - - - 1,129,055 617,996 1.82Sudan ............. 1,162,642 689,705 12,582 10,087 - - 1,175,424 699,792 2.06Swaziland ........... 7,175 7,175 - - - - 7,175 7,175 0.02

Syrian Arab Republic ... . 45,466 45,466 - - - - 45,466 45,466 0.13Tanzania ............ 1,051,461 801,771 - - 75,622 49,934 1,127,083 851,705 2.51Thailand ............ 114,027 110,398 - - - - 114,027 110,398 0.33Togo ....... ..... 417,770 233,052 24,181 24,181 13,237 13,237 455,188 270,470 0.80Tonga ...... ... 2,097 302 - - - - 2,097 302

Tunisia ....... ..... 62,682 62,682 - - - 62,682 62,682 0.18Turkey ....... ..... 168,140 168,140 - - - - 168,140 168,140 0.50Uganda ..... ..... 813,380 518,736 - - 24,639 13,065 838,019 531,801 1.57Vanuatu ...... ..... 4,124 1,598 - - - - 4,124 1,598Viet Nam ........... 59,697 59,697 - - - - 59,697 59,697 0.18

Western Samoa . ....... 23,277 13,096 - - - 23,277 13,096 0.04Yemen Arab Republic. . . 533,885 312,270 - - - - 533,885 312,270 0.92Yemen, People's Dem.

Rep. of ........... 218,588 159,860 12,975 7,651 - - 231,563 167,511 0.49Zaire .............. 1,024,342 642,545 - - 202,489 138,225 1,226,831 780,770 2.30Zambia ..... ..... 358,955 174,290 7,339 3,895 67,890 67,698 434,184 245,883 0.72Zimbabwe ........... 62,506 56,314 - - - - 62,506 56,314 0.17

Subtotal members ... . 49,029,914 32,775,331 608,398 247,426 1,200,650 864,776 50,838,962 33,887,533

(continued)


Summary Statement ofDevelopment Credits (continued)

June 30, 1988 and June 30, 1987Expressed in thousands of US dollars

June 30, 1988Total

IDA Special Fund African Facility otTotal Credits Total Credits Total Credits Total Credits credits

Borrower or guarantor creditsW outstanding credits outstanding credits outstanding credits outstanding outstanding

Regional developmentbanks $ $ $ $ $ $ $ $West Atrican

Development Bank' $ 20,038 $ 10,548 $ - $ - $ - $ - $ 20,038 $ 10,548 0.04Caribbean Development

Bank . .21,810 11,724 - - - 21,810 11,724 0.04Subtotal regional

development banks . 41,848 22,272 - - - - 41,848 22,272

Other .11,154 11,154 -- _ _ 11,154 11,154 0.02

ota -June 30, 1988 $49,082,916 $32,808,757 $608,398 $247,426 $1,200.650 $864,776 $50,891,964 $33,920,959 10000

Total-June 30, 1987 .. $44,434,339 .$29,426,519 $593,270 $185,389 $1,059,862 $505,397 $46,087,471 $30,117,305

a. Of the undisbursed balance at June 30, 1988, IDA has entered into irrevocable commitments to disburse $283,807,000 ($240,054,000-1987).b. These development credits are tor the benefit of Benin, Burkina Faso, Cote dlvoire, Niger, Senegal, and Togo,c. These development credits are tor the benetit of Grenada and territories of the United Kingdom (Associated States and Dependencies) in the CaribbeanRegion.d. Represents development credits made at a time when the authorities on Taiwan represented China in IDA (prior to May 15, 1980).

Maturity Structure of Development Credits*June 30, 1988

Special AfricanPeriods IDA Fund Facility Total

July 1, 1988 to June 30, 1989 .............................. $ 188,003 $ - $ - $ 188,003July 1, 1989 to June 30, 1990 ............................ 225,173 - - 225,173July 1, 1990 to June 30, 1991 ............................ . 275,751 - - 275,751July 1,1991 to June 30, 1992 ................... .......... 324,722 - - 324,722July 1,1992 to June 30, 1993 .............................. 375,481 78 - 375,559

July 1, 1993 to June 30, 1998 .............................. 2,895,401 26,632 21,324 2,943,357July 1,1998to June 30, 2003 .............................. 4,856,672 31,291 60,032 4,947,995July 1, 2003 to June 30, 2008 ............ . ............... 6,659,601 82,275 102,682 6,844,558July 1, 2008 to June 30, 2013 .. . ......................... 7,769,508 91,044 180,098 8,040,650July 1, 2013 to June 30, 2018 .................... .. 7,594,435 91,044 180,098 7,865,577

July 1, 2018 to June 30, 2023 .................... .. 7,264,814 91,044 180,098 7,535,956July 1, 2023 to June 30, 2028 ........... .......... ....... 5,953,325 91,044 180,098 6,224,467July 1, 2028 to June 30, 2033 .............................. 3,686,538 90,794 180,098 3,957,430July 1, 2033 to June 30, 2037 .............................. 1,013,492 13,152 116,122 1,142,766

Total ................................... $4........... $ 9,082,916 $608,398 $1,200,650 $50,891,964

Includes undisbursed balance.See Notes to Financial Statements.

Voting Power, and Subscriptions and Contributions 187

Statement of Voting Power,and Subscriptionsand ContributionsJune 30, 1988 and June 30, 1987Expressed in thousands of US dollars

June 30, 1988IDA

Number Percentage Subscriptionsof of and Special Fund African Facility

Members' votes total' contributions contributions contributionsPart I MembersAustralia . . .... .. . .. . . .. . . . 84,501 1.45 $ 1,022,296 $ - $ -Austria . . 39,431 0.68 408,578 - 16,737Belgium . ...... . . . . 64,549 1.11 616,711 46,403 8,032Canada . . .... . . . . . .. . 193,338 3.31 2,522,480 158,988 78,240Denmark . . . .......... ... . 57,151 0.98 616,871 33,248 23,602

Finland . .... .. . . .. . . . 35,158 0.60 344,302 - 17,518France ...... . . .. .. . 227,465 3.90 3,100,636 138,235 226,433Germany, Federal Republic of ..... . . . 414,497 7.10 6,332,089 - -Iceland ...... .. . .. . . .. . . . 15,049 0.26 7,490 -Ireland ...... .. . .. . . .. . . . 18,448 0.32 60,320 - 2,241Italy ..... .. .. .. . ... . 139,794 2.40 1,257,024 88,195 229,244Japan .. . . . . . . . . . . . . . 537,655 9.21 11,203,839 - -Kuwait ... .. .. 62,126 1.06 603,238Luxembourg . ......... . . .. . 12,744 0.22 20,297 - -Netherlands .. . .. . . ... . . . . 121,957 2.09 1,890,781 - 164,441

New Zealand . ........ . .. . 18,108 0.31 59,835 -Norway ..... . . 55,368 0.95 588,725 39,874 38,968South Africa .... . ...... . 19,760 0.34 59,078 - -Sweden . . . . .. .. . .. . . . 128,730 2.21 1,462,564 76,317 68,736United Arab Emirates .. . ... . . . 15,942 0.27 136,535 - -

United Kingdom ... . ..... . . . 358,528 6.14 4,632,759United States .... . . . . . .. . 1,057,107 18.11 14,766,088 - 136,580

Subtotal ...... .. . . . .. . 3,677,406 63.02 51,712,536 581,260 1,010,772Part It MembersAtghanistan . . . . 13,557 0.23 1,341 - -Algeria . . . . 18,481 0.32 5,191 - -Argentina . .......... .. . .. . . 81,053 1.39 49,092 -Bangladesh .. .......... . . . . 37,457 0.64 7,059 -Belize . ....... . .. . 1,788 0.03 243 - -

Benin .... . .. . . 4,966 0.09 623 - -Bhutan . . . . .. 3,526 0.06 61 - -Bolivia ..... . 13,748 0.24 1,328 - -Botswana ... . . . . ...... . . . 11,745 0.20 206 -Brazil ....... . . .. . . .. . 92,465 1.58 62,256 - -

Burkina Faso . . . 9,720 0.17 647 - -Burma .. . . .. 22,889 0.39 2,745 -Burundi . .......... .. . .. . 12,667 0.22 986 -Cameroon .. . . . . ... . . .. . 13,854 0.24 1,330 - -Cape Verde . . ........ . 516 0.01 97 - -

Central African Republic . . ..... . 10,920 0.19 653 - -Chad . 6,459 0.11 647 -Chile . . .. . 25,272 0.43 4,452 - -China . ................. 117,316 2.01 39,503 - -Colombia .......... 26,642 0.46 13,507

Comoros . . 5,774 0.10 102 - -Congo, People's Repubihc of the . ...... . 6,685 0.11 639 - -Costa Rica . .. . .. .... 7,844 0.13 254 - -Cote d'lvoire .. 7,771 0.13 1,291 - -Cyprus . .. . . . . . . . 17,394 0.30 1,023 - -

(continued)


Statement of Voting Power,and Subscriptionsand Contributions [continued)June 30, 1988 and June 30, 1987Expressed in thousands of US dollars

June 30, 1988IDA


Members' votes total' contributions contributions contributions

Part II Members (continued)

Djibouti ......... . .. I . .. . . . 532 0.01 $ 193 $ - $ -Dominica. 6,213 0.11 100 -Dominican Republic . ........ . .. 15,860 0.27 581 -Ecuador .. . . .................. 13,709 0.23 821 -Egypt, Arab Republic of ...... . . . . . 28,424 0.49 6,445 -

El Salvador . . . . . . . . . . . . . . . 6,244 0.11 405 -Equatorial Guinea ........ ..... 1,967 0.03 401 -Ethiopia .1.3..1. . . ....... I.I..13 .09 0.22 693 -Fiji ......... .. . .. .. . .. . 2,130 0.04 701 -Gabon ..... ... ....... 2,093 0.04 627 -

Gambia, The ..... . ......... 10,644 0.18 340 -Ghana ....... ............ 15,362 0.26 2,959 -Greece ...... .. . . .. . .. . . . 26,356 0.45 13,937 -Grenada . . . . . . . . . . . . . . . . 14,439 0.25 122 -Guatemala .. . . . . .. . . . .. . . 12,713 0.22 514

Guinea . ..... ....... . 16,889 0.29 1,328Guinea-Bissau ...... . 528 0.01 169Guyana ...... . ....... 12,859 0.22 1,030 -Haiti ...... .. .. 14,143 0.24 1,016 -Honduras . .. ........ . . . 12,290 0.21 403

Hungary ...... . . .... 46,809 0.80 20,682India . . .. 190,400 3.26 53,899 -Indonesia .. ....... . ..... 62,300 1.07 14,387 -Iran, Islamic Republic of . . .. . . . . . 15,455 0.26 5,854Iraq . . . 9,407 0.16 992 -

Israel . . 9,386 0.16 2,401 -Jordan . . . . 15,388 0.26 404 -Kampuchea, Democratic . . .. . ..... 7,826 0.13 1,284Kenya. . . ...... 16,021 0.27 2,156 -Kiribati . .......... . . 512 0 01 73 -

Korea, Republic of . 21,439 0.37 35,150 -Lao People's Democratic Republic . 11,723 0.20 633 -Lebanon ...... . . . . .. 8,562 0.15 564Lesotho .a . . . . 10,487 0.18 204Liberia . .... . ... 13,867 0.24 1,016

Libya.. 7,771 0.13 1,303 -Madagascar ...... .. 7.0.2. . 702 0.01 1,218 -Malawi . .. ... . 14,143 0.24 974Malaysia . .. . .... 25,026 0.43 3,406 -Maldives . .. .... . 14,229 0.24 39 -

Mali ... ...... ... 13,507 0.23 1,158 -Mauritania . .. .... . 6,685 0.11 637 -Mauritius . .. ...... .... 17,855 0.31 1,168 -Mexico ............ . . . 34,001 0.58 46,743 -Morocco . ....... ....... . 29,442 0.50 4,678 -

Mozambique ..... ..... . 774 0.01 1,653 -Nepal . . . . . . . . . . . . . . . . . . . 16,089 0.28 659 -Nicaragua ........ . . .. . . 10,896 0.19 387Niger ......... . ......... 16,210 0.28 673Nigeria . . . . . . . . . . . . . . . 4,057 0.07 4,211

Voting Power, and Subscriptions and Contributions 189

June 30, 1988IDA


Membersa votes totaP contributions contributions contributions

Oman . ........ . .. .. . .. . . . 12,293 0.21 $ 423 $ - $ -Pakistan ....... . ........ . . 56,741 0.97 13,481 -Panama ....... . . 5,657 0.10 26 -Papua New Guinea ... . ....... . . 13,050 0.22 1,132 - -Paraguay ...... . ........ . . . 8,124 0.14 383 -

Peru ......... . .. . .. .. . . . 854 0.01 2,135 -Philippines ........ . . . .. . . . . . 16,583 0.28 6,484 -Poland ........ .. . . .. . .. . . 6,670 0.11 37,215 -Rwanda ...... . ......... . . 12,667 0.22 1,016 -St. Kitts and Nevis . . . . . . . . . . . . . . . 526 0.01 158 -

St. Lucia .O....... .. . . .. . .. . . 10,445 0.18 199 -St. Vincent and the Grenadines ..... . . . . 514 0.01 84 -Sao Tome and Principe ...... . . . . . . . 514 0.01 84 -Saudi Arabia ....... . . . . . . . . . . 155,193 2.66 1,219,462 -Senegal ........ .. . .. . .. . . 17,830 0.31 2,214 -

Sienra Leone ....... ......... 12,667 0.22 954Solomon Islands ...... . . . . . . . . . 518 0.01 109 - -Somalia ... .... .. . . 10,506 0.18 955Spain .. ...... ... . 67,942 116 120,947 - 13,710Sri Lanka . .. .. ...... ... . . 27,241 0.47 3,954 -

Sudan . ........... ...... . 13,884 0.24 1,289 -Swaziland . . . . . . . . . . . . . . . 11,073 0.19 409 -Syrian Arab Republic . .. . ....... 7,651 0.13 1,202 -Tanzania .................. . 16,021 0.27 2,115 -Thailand. . ....... . . 27,241 0.47 4,077 -

Togo . .. 14,143 0.24 1,002 - -Tonga . . . . . . . . . . . . . . . . . . . 11,380 0.20 94Trinidad and Tobago .. ..... . . . . 770 0 01 1,629 -Tunisia . .. .... ......... .. 2,793 0.05 1,893Turkey ............... ... . 39,634 0.68 18,172 -

Uganda .. .... . .... .. . . .. 16,021 0 27 2,106 -Vanuatu ........ .. . . . . .. . . 4,869 0.08 236 -Viet Nam ....... .... 8,889 0.15 1,893 -Western Samoa ....... ... 8,768 0.15 115 -Yemen Arab Republic ...... . . . . . . . 11,468 0.20 553 -

Yemen, People's Dem. Rep. of ..... . . . . . 11,791 0.20 1,552Yugoslavia ..... . ... . . . . . 34,038 0 58 19,303 -Zaire ...... ........... . . 12,164 0.21 3,785 -Zambia ...... . .. . . .. . .. . . 19,730 0.34 3,389 -Zimbabwe ........ . . . .. . . . . 1,324 0.02 4,970 -

Subtotal .. ... . . . 2,158,169 36.98 1,917,866 - 13,710Total-June 30, 1988 . 5,835,575 10000 $53,630,402 $581,260 $1,024,482

Total-June 30,1987 ... ........ . . 5,374,790 $41,141,879 $572,818 $1,007,061

a. See Notes to Financial Statements-Note F, for an explanation of the two categories of membership.b. Total may differ from the sum of individual percentages shown because of rounding.See Notes to Financial Statements.


Notes to Financial Statements

June 30, 1988 and June 30, 1987

Summary of Significant Accounting basket method of valuing the SDR on July 1, 1974, such value being equaland Related Policies to $1.20635 for one SDR (the 1974 SDR), and also decided to apply the

same standard of value to amounts expressed in 1960 dollars in theOrganization and Operations relevant resolutions of the Board of Governors.

IDA was established on September 24, 1960 to promote economic devel The subscriptions and contributions provided through the third replenish-opment, increase productivity, and raise the standard of living of its ment are expressed on the basis of the 1974 SDR. Prior to the decision ofdeveloping country members. the Executive Directors, IDA had valued these subscriptions and contribu-

On October 26, 1982, IDA established the Special Fund constituted by tions on the basis of the SDR at the current market value of the SDR.funds to be contributed by members of IDA and administered by IDA, to The subscriptions and contributions provided under the fourth replenishsupplement the regular resources available for lending by IDA. The arrange- ment and thereafter are expressed in members currencies or SDRs andments governing the Special Fund may be amended or terminated by IDA's are payable in members' currencies. Prior to July 1, 1986, amountsExecutive Directors subject to the agreement of a qualified majority of the receivable and amounts received but not yet disbursed were translated atcontributors to the Special Fund. The Special Fund became effective on market rates of exchange at the end of the accounting period. AmountsDecember 13, 1982. The resources of the Special Fund are kept separate which had been disbursed or converted into other currencies were transfrom the resources of IDA. lated at market rates of exchange on dates of disbursement or conversion.

Beginning July 1, 1986, amounts received but not yet disbursed, as wellOn May 21,t1985, IDA established a Special Facility for Sub-Saharan Africa as amounts disbursed or converted into other currencies, are translated at(the African Facility) constituted by tunds to be contributed by the Interna. market rates of exchange on the dates they were made available fortional Bank for Reconstruction and Development (IBRD) and other donors disbursement in cash to IDA.to provide financing for countries of the Sub-Saharan region. The AfricanFacility became effective on July 1, 1985, and is administered by IDA. The Special Fund and African Facility: Undisbursed contributions are transresources of the African Facility are kept separate from the resources of lated at market rates of exchange at the end of the period. DisbursedIDA. contributions are translated at market rates of exchange effective on the

dates of disbursement.Translation of Currencies

IDA: IDA is an international organization which conducts its operations in Development Creditsthe currencies of all of its members and Switzerland. Assets and liabilities All development credits are made to member governments or to theare translated at market rates of exchange at the end of the accounting government of a territory of a member (except for development creditsperiod. Income is generally translated at an average of the market rates of which have been made to regional development banks for the benefit ofexchange in effect during each month. Subscriptions and contributions are members or territories of members of IDA). It is IDA's policy to place intranslated in the manner described below. Translation adjustments relating nonaccrual status all development credits made to a member governmentto the revaluation of development credits denominated in Special Drawing or to the government of a territory of a member if principal or charges withRights (SDRs) are charged or credited to Cumulative Translation Adjust respect to any such credit are overdue by more than six months, unlessments on Development Creddts. Other translation adjustments are included IDA management determines that the overdue amount will be collected inin the determination of Liquid Funds. the immediate future. Charges on nonaccruing credits are included inSpecial Fund and African Facility: Assets of the Special Fund and the income only to the extent that payments have actually been received byAfrican Facility are translated at market rates of exchange at the end of the IDA. IDA has not suffered any losses on development credit receivablesperiod. Contributions are translated in the manner described below, and has established no provision for credd losses because no losses are

anticipated.Valuation of Subscriptions and Contributions IDA: The repayment obligations of IDA's development credits funded from

IDA: The subscriptions and contributions provided through the third re resources through the fifth replenishment are expressed in the developmentplenishment are expressed in terms of "US dollars of the weight and credit agreements in terms of 1960 dollars. Pending resolution of thefineness in effect on January 1 1960 (1960 dollars). Fllowing the aboli- valuation issue, as an interim measure, payments have been accepted attion of gold as a common denominator o( the monetary system and the the rate of $1.20635 per 1960 dollar. On June 30, 1987, the Executiverepealoftheprovision of goldtashacommon denoinedator of the monet mand tueo Directors decided to value such credits at that rate on a permanent basis.repeal of the provision of the United States law detining the par value of Consequently, no adjustment has been required to the item Developmentthe US dollar in terms of gold, the pre-eisting basis for translating 1960 Credits Outstanding and the corresponding Cumulative Translation Adjust-dollars into current dollars or any other currency disappeared. On June ment. Development credits funded from resources provided under the sixth30, 1987, the Executive Directors of IDA decided, with effect on that date menishment creafter re sourced in S dr the sixthand until such time as the relevant provisions of the Articles of Agreement replemishment and thereafter are denominated in SDRs; the principalare amended, to interpret the words "United States dollars of the weight amounts disbursed under such credits are to be repaid in amounts equiv-and fineness in effect on January 1, 1960" in Article II, Section 2(b) of the aient to the value of the disbursements in terms of SDRs.Articles of Agreement of IDA to mean the Special Drawing Right (SDR) Special Fund: Special Fund credits are denominated in SDRs. The prinintroduced by the International Monetary Fund, as the SDR was valued in cipal amounts disbursed under such credits are to be repaid in amountsterms of Unded States dollars immediately before the introduction of the equivalent to the value in terms of SDRs of currencies disbursed.

Notes to Financial Statements 191

Special Fund credits are made on the same terms as regular IDA credits Note C-Development Creditsexcept that the proceeds of Special Fund credits may be used only tofinance expenditures for goods or services from (a) Part II members of Special Fund and African Facility Development Credits Outstanding areIDA; (b) Part I members contributing to the Special Fund; and (c) Part I included in the Statements of Condition of IDA since the principal repaymembers contributing to the regular resources of IDA through IDA's FY84 ment on these credits shall become part of the general resources of IDA,Account who have notified IDA that such contributions are to be treated in unless otherwise provided in a decision of IDA's Executive Directors tothe same manner as contributions to the Special Fund for purposes of any terminate administration of the Special Fund andlor African Facility by IDA.tuture adjustment of the voting rights of the members of IDA. At June 30, 1988 no development credits, other than those referred toAfrican Facility: African Facility credits are denominated in SDRs. The below, were overdue by more than three months.principal amounts disbursed under such credits are to be repaid in amounts At June 30, 1988, the development credits made to or guaranteed byequivalent to the value in terms of SDRs of currencies disbursed, certain member countries with an aggregate principal balance outstandingAfrican Facility credits are made to member countries of IDA in Sub- of $528,859,0D0 of which $3,414,0D0 was overdue, were in nonaccrualSaharan Africa which are eligible for development credits of IDA and have status. If these credits had not been in nonaccrual status, income fromundertaken or are committed to undertake medium-term programs of policy credits for the fiscal year would have been $8,981,0D0 higher This nonac-reform and stabilization measures acceptable to IDA. Proceeds of African crual policy went into effect in April 1988. A summary of borrowers inFacility credits equivalent to the amount contributed by the IBRD shall be nonaccrual status follows:used in the same manner as the regular resources of IDA. The remainingproceeds may be used only to finance expenditures for goods produced US$ thousandsor services supplied from (a) Part II members of IDA; (b) Part I memberscontributing to the Atrican Facility; and (c) countries which maintain special June 30, 1988joint financing arrangements with IDA. Principal Principal Income

Borrower outstanding overdue effect

Investments Liberia .$100,492 $ 280 $1,694Nicaragua. ........ 59,946 1,335 1,970

Investment securities are recorded at cost or amortized cost which approx- Sierra Leone 77,072 429 1,393imates market. Gains or losses on sales of investments, measured by the Syrian Arab Republic 45,466 1,370 735difference between average cost and proceeds of sales, are recorded-as Zambia2 4 hc . . 5,883 - 3,189an element of income from investments. ______ 258 3 -,1

$528,859 $3,414 $8,981

Note A-Cash Not Immediately Availablefor Disbursement Note D-Maintenance of Value

Under the Articles of Agreement and the arrangements governing replen-ishments, IDA must take appropriate steps to ensure that, over a reasona- Article IV, Section 2(a) and (b) of IDA's Articles of Agreement provides forble period of time, the resources provided by donors for lending by IDA maintenance of value payments on account of the local currency portionare used on an approximately pro rata basis. Donors sometimes contribute of the initial subscription whenever the par value of the member's currencycash substantially ahead of their pro rata share. Unless otherwise agreed, or its foreign exchange value has, in the opinion of IDA, depreciated orIDA does not disburse these funds ahead of donors pro rata share, Cash appreciated to a significant extent within the members' territories, so longNot Immediately Available for Disbursement represents the difference be- as and to the extent that such currency shall not have been intiallytween the cash contributed and the amount available for disbursements on disbursed or exchanged for the currency of another member. The provi-a pro rata basis. sions of Article IV, Section 2(a) and (b) have by agreement been extended

to cover additional subscriptions and contributions of IDA through the thirdreplenishment but are not applicable to those of the fourth and subsequentNote B-Restricted Assets and Subscriptions replenishments.

For the purposes of its financial resources, the membership of IDA is The Executive Directors decided on June 30, 1987, that settlement ofdivided into two categories: (1) Part I members, which make payments of maintenance of value obligations, which would result from the resolutionsubscriptions and contributions provided to IDA in convertible currencies of the valuation issue on the basis of the 1974 SDR, would be deferredwhich may be freely used or exchanged by IDA in its operations; (2) Part until the Executive Directors decide to resume such settlements.11 members, which make payments of ten percent of their initial subscrip-tions in freely convertible currencies and the remaining ninety percent of Note E-Contribution by Switzerlandtheir initial subscriptions, and all additional subscriptons and contributionsin their own currencies or in freely convertible currencies. IDA's Articles of IDA has received grant contributions in the amount of SwF181,480,000Agreement and subsequent replenishment agreements provide that the from the Swiss Confederation which is not a member of IDA. The agree-currency of any Part II member paid in by it may not be used by IDA for ments between the Confederation and IDA provide for converting theseprojects financed by IDA and located outside the territories of the member grant contributions into subscriptions or contributions if Switzerland shouldexcept by agreement between the member and IDA. become a member of IDA.

(continued)


Notes to FinancialStatements (continued)

June 30, 1988 and June 30, 1987

Note F-Subscriptions and Contributions Note G-Transfers from The InternationalOn June 26, 1987, the Board of Governors of IDA adopted a resolution Bank for Reconstruction and Developmentauthorizing the eighth replenishment of IDA's resources. The amount of (IBRD)replenishment, including supplementary contributions provided by certain IDA: The IBRD has authorized transfers by way of grants to IDA totalingmembers and a grant from Switzerland, is equivalent to approximately$12.4 billion (at the exchange rates determined pursuant to a formula $2,567,371,000 ($2,514,188,000-1987) from net income of the IBRD foragreed among the contributing members). The eighth replenishment, which the fiscal years ended June 30, 1964 through June 30, 1987. Of the totalbecame effective on March 4, 1988 is providing IDA with resources to amount, $79,905,000 ($79,905,000-1987) has been disbursed for grantsfund credits committed during the period July 1, 1987 to June 30, 1990 for agricultural research, the control of onchocerciasis, and other developAs of June 30, 1988, twenty-three contributing members (including eigh. mental activities. Of the balance of $2,487,466,000 ($2,434,283,000-teen Part I members) have notified IDA that they will contribute the 1987) available for general purposes of IDA, $1,714,175,000equivalent of approximately $10.7 billion to the eighth replenishment. ($1,714,175,000-1987) has been received and $773,291,000Payment of eighth replenishment subscriptions and contributions is due in ($720,108,000-1987) is reflected as a receivable from the IBRD.three equal annual installments, unless IDA agrees to a different schedule. African Facility: The IBRD authorized a transfer to the African Facility ofFor purposes of credit commitments by IDA, all contributions to the eighth $150,000,000 from net income of the IBRD for the fiscal year ended Junereplenishment are divided into three equal annual tranches. The first 30,1985. These funds will be paid to the African Facility as needed totranche became available for commitment as of the effective date of the finance African Facility credits.replenishment (except to the extent already available in the form of advancecontributions); the second and third tranches will become available for Note H-Income and Expensescommitment by IDA for credits as of November 1, 1988 and 1989, IDA IDArespectively, unless a contributing member authorizes IDA to use such the aIn pays a management tee to the IBRD represenIng its share ofamounts earlier Contributions may not be released in their entirety by the administratve expenses Incurred by the IBRD. In May 1987 the IBROother contributing members if any contributing member with a share in the announced a reorganization to improve its efficiency and effectiveness.replenishment of more than 20% which has deposited with IDA a Qualified IDA's original share of accrued reorganization costs of $43,900,000 wasInstrument of Commitment has not deposited notifications of unqualified included in its Management Fee to IBRD in the Statements of Changes incommitments for the second and third tranches of its contribution by Liquid Funds for the year ended June 30, 1987. In September 1987 theOctober 31, 1988 and October 31, 1989, respectively. in this situation, cost estimate of the reorganization was revised, and IDA's share wasother contributing members have the right to reduce their second and third increased to $56,300,000. The portion of the increase which related to IDAtranches (whichever is applicable) on a pro rata basis. of $12,400,000 is included in Management Fee in the accompanying

Statements of Changes in Liquid Funds for the year ended June 30, 1988.At June 30, 1988 and 1987, the composition of unrestricted subscriptions Special Fund and Afrcan Facility: The service and commitment chargesand contributions (expressed in thousands of US dollars) not yet due will payable by borrowers under Special Fund and African Facility credits arebecome due as follows:pybeb orwr ne pca Fn n fia aHt rdt rpaid directly to IDA to compensate it for services as administrator of the

Special Fund and the African Facility. Income from investments ofFiscal years 1988 1987 the Special Fund and the African Facility becomes part of the resources of

the Special Fund and the African Facility, respectively.

IDA1988 .................. . $ - $1,019,7771989 .................. . 2,785,778 -1990 .................. . 2,786,984 -Undetermined ............ . 2,011,115 219,310*

Total ................. . $7,583,877 $1,239,087

AfricanFacility1988 .................... $ - $ 120,303

Includes the portion of a member's contribution which was qualified atthat time.

Report of Independent Accountants 193

Report of Independent Accountants

1801 K Street, N.W. Telephone 202 833 7932Washington, DC 20006

Price Waterhouse 0July 27, 1988

President and Board of Governors,International Development AssociationSpecial Fund Administered by the InternationalDevelopment Association, and the Special Facilityfor Sub-Saharan Africa Administered by theInternational Development Association

In our opinion, the financial statements appearing on pages 177 through 192 of this Report present fairly,in all material respects, in terms of United States dollars, the financial position of the InternationalDevelopment Association, Special Fund Administered by the International Development Association, andthe Special Facility for Sub-Saharan Africa Administered by the International Development Association atJune 30, 1988 and 1987, and the changes in their commitment resources and their liquid funds for theyears then ended in conformity with generally accepted accounting principles. These financial statementsare the responsibility of management; our responsibility is to express an opinion on these financialstatements based on our audits. We conducted our audits of these statements in accordance with generallyaccepted auditing standards which require that we plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free of material misstatement. An audit includes examining, ona test basis, evidence supporting the amounts and disclosures in the financial statements, assessing theaccounting principles used and significant estimates made by management, and evaluating the overallfinancial statement presentation. We believe that our audits provide a reasonable basis for the opinionexpressed above.

PK . _° ;4k 1 _ Ar

195

IBRD/IDA Appendices

1 Governors and Alternates of the World Bank 196

2 Executive Directors and Alternates of the World Bankand Their Voting Power 199

3 Officers and Department Directors of the World Bank 201

4 Offices of the World Bank 203

196 IBRD/IDA Appendices

Governors and Alternates Appendix 1of the World BankJune 30, 1988

Member Governor Alternate

Afghanistan ........... ...... Mohamad Kabir ...................... Abdul Ghafoor JoushanAlgeria . .................. Abdelaziz Khellef ...................... Mokdad SifiAntigua and Barbudal ................. John E. St. Luce ...................... Ludolph BrownArgentina ............ ...... Juan Vital Sourrouille ................... Jose Luis MachineaAustralia ................. P J. Keating ...................... Bob Dun

Austria ....... .......... Ferdinand Lacina ...................... Othmar HaushoterBahamas, The, .................. Sir Lynden 0. Pindling .................. Ethelyn C. IsaacsBahraina ......................... Ibrahim Abdul Karim .................... Isa Abdullah BorshaidBangladesh ..... A. K. Khandker .. M. K. AnwarBarbadosa ..... L. Erskine Sandiford .. Winston Cox

Belgium ..... Philippe Maystadt .. Jean GodeauxBelize ..... Dean Barrow .. Yvonne S. HydeBenin ..... Mohamed Souradjou Ibrahim .. Saliou AboudouBhutan ..... Dawa Tsering .. Karma DorjeeBolivia .. ... Gonzalo Sanchez de Lozada .. Javier Nogales Iturri

Botswana ..... P. S. Mmusi .. Baledzi GaolatheBrazil .. . . . Mailson Ferreira da Nobrega .. Elmo de Araujo CamoesBurkina Faso ..... Youssouf Ouedraogo .. Henri Bruno BessinBurma ..... Tun Tin .. Nyunt MaungBurundi ..... Pierre Binoba .. Anselme Habonimana

Cameroon ..... Elizabeth Tankeu .. Simon Ngann YonnCanada ..... Michael H. Wilson .. Margaret Catley-CarlsonCape Verde ..... Arnaldo Carlos de Vasconcelos Franca .. Antonio Hilario CruzCentral African Republic ............... Louis Papeniah ............. Robert AmediChad ....... .......... Cyriaque Samba-Panza ............ . Ahmed Kerim Togoi

Chile ................. Hernan Buchi ............. Jorge Selume ZarorChina ........ .......... Wang Bingqian ..... ........ Chi HaibinColombia ......... ........ Luis F. Alarcon-Mantilla ............ . Francisco J. OrtegaComoros ................. Ahmed Abdou . Mikidache Abdou'rahimCongo, People's Republic of the ......... Dieudonne Diabatantou ............ . Andre Batanga

Costa Rica ............. ..... Fernando E. Naranjo ........ ..... Eduardo Lizano FaitC6te d'lvoire ............. .... Abdoulaye Kone ... .......... Leon NakaCyprus .................. George Syrimis ............. Gecrge V. HadjianastassiouDenmark ................. Ufle Ellemann-Jensen ............. Bjorn OlsenDjibouti ................. Mohamed Diama Elabe ... .......... Ahmed Samireh Omar

Dominica ................. Mary Eugenia Charles ............. Alick B. LazareDominican Republic ................. Roberto Saladin ............. Opinio Alvarez BetancourtEcuador ................. Eduardo Cabezas Molina ............. Marco Flores T.Egypt, Arab Republic of ............... Kamal El-Ganzoury ....... ...... Erfan A. ShafeyEl Salvador .................. Remo Bardi Cevallos ............. Mauricio Choussy Rusconi

Equatorial Guinea ................. Felipe Hinestrosa Ikaka ... .......... Juan Efua Efua AsangonoEthiopia ........ ......... Wollie Chekol ..... ........ Bekele TamiratFiji ....... ........... J. N. Kamikamica ....... ...... Jone Y. KubuabolaFinland .................. Erkki Liikanen .............. Osmo SarmavuoriFrance ......... ......... Jacques de Larosiere .......... ... Jean-Claude Trichet

Gabon .................. Pascal Nze ............. Jean-Fblix MamalepotGambia, The ................. Sheriff S. Sisay ............. M. M. JagneGermany, Federal Republic of ........... Hans Klein .... ......... Hans TietmeyerGhana ................. Kwesi Botchwey ............. Kwesi Bekoe Amissah-ArthurGreece ................. Panagiotis Roumeliotis ............. Yannis Papantoniou

Grenada .......... ........ Herbert Augustus Blaize ............. Lauriston F. Wilson, Jr.Guatemala .................. Rodolfo Paiz Andrade ............. Lizardo Arturo Sosa Lopez

Appendix 1 197


Guinea ................... Edouard Benjamin ..................... Kerfalla YansaneGuinea-Bissau ................... Pedro A. Godinho Gomes ................ Jose Lima BarberGuyana ................... Carl Greenidge ..................... W. Haslyn Parris

Haiti ........ ........... Andre Jean-Pierre ...................... Onill MilletHonduras ................... J. Efrain Bu Giron ..................... Gonzalo Carias PinedaHungaly ................... Mikl6s Pulai ..................... Tibor MelegaIceland .......... ......... Jon Sigurdsson ..................... Jon Baldvin HannibalssonIndia ................... Narayan Datt Tiwari ..................... S. Venkitaramanan

Indonesia .............. ..... J. B. Sumarlin ..................... Sujitno SiswowidagdoIran, Islamic Republic of ............... Mohammad Javad Iravani ..... . ......... Seyed Ali Akbar AfjeiIraq ................... Hikmat Omar Al Hadithi .................. Subhi FrankoolIreland ................... Ray MacShary ...................... Sean P. CromienIsrael ......... .......... Michael Bruno ...................... Victor Medina

Italy ................... Carlo Azeglio Ciampi .................... Mario SarcinelliJamaica ................... Edward Seaga ..................... Headley BrownJapan ................... Kiichi Miyazawa ..................... Satoshi SumitaJordan ................... Taher H. Kanaan ..................... Mohammad H. Al-SaqqafKampuchea, Democratic ............... (vacant) ..................... (vacant)

Kenya ................... George Saitoti ..................... Charles S. MbindyoKirbati .......... ......... Teatao Teannaki ..................... Beniamina TingaKorea, Republic of ................... II Sakong ..................... Kun KimKuwait . ................... Jassim Mohamed Al-Kharafi ............... Bader Mishari Al-HumaidhiLao People's Democratic Republic ........ Sisavath Sisane ..................... Soulignong Nhouyvanisvong

Lebanon ................... Habib Abou-Sakr ..................... Raja HimadehLesotho . ................... Michael M. Sefali ..................... Tom Liphapang TuoaneLiberia .......... ......... Elijah E. Taylor ...................... G. Pewu SubahLibya . ................... Mohamed El Madni Al-Bukhari ............. Bashir Ali KhallatLuxembourg ................... Jacques Santer ...................... Raymond Kirsch

Madagascar ................... Pascal Rakotomavo ..................... Jean RobiarivonyMalawi .......... ......... L. Chimango ..................... Alfred A. UpindiMalaysia .............. ..... Daim Zainuddin ..................... Zain AzraaiMaldives .............. ..... Fathulla Jameel ..................... Ismail FathyMali ........ ........... Ousmane M. Diallo ..................... Najim Ould Hamadi

Malta ................... George Bonello Dupuis .................. Edgar WadgeMauritania ............... .... Cheikh Ould Hamed Louly ................ Mohamedou Ould MichelMauritius .............. ..... Beergoonath Ghurburrun ................. Madhukarlall BaguantMexico .......... ......... Gustavo Petricioli ...................... Ernesto Marcos GiacomanMorocco .............. ..... Mohamed Berrada ..................... Mustapha Faris

Mozambique ................... Abdul Magid Osman .................... Eneas da Conceicao ComicheNepal ......... .......... Bharat Bahadur Pradhan ................. Lok Bahadur ShresthaNetherlands ................... H. 0. Ruding ..................... P. BukmanNew Zealand ................... Graham C. Scott ..................... Richard F. ShallcrassNicaragua ................... Joaquin Cuadra Chamorro ................ Pedro Antonio Bland6n Lanzas

Niger ......... .......... Almoustapha Soumaila .................. Madou MamadouNigeria . ................... Chu S. P. Okongwu ..................... Alhaji U. K. BelloNorway ................... Gunnar Berge ..................... Arne ArnesenOman ......... .......... Qais Abdul-Munim Al-Zawawi .............. Sherif LottyPakistan ............ ....... Mian Mohammad Yasin Khan Wattoo ........ Saeed Ahmad Qureshi

Panama ................... Gustavo R. Gonzalez J ................... Hector AlexanderPapua New Guinea .................. Galeva Kwarara ..................... Morea Vele

(continued)

198 IBRDIIDA Appendices

Governors and Alternates Appendix 1of the World Bank (cotinued)

June 30, 1988


Paraguay ....................... Cesar Romeo Acosta .................. Carlos Alberto KnappsPeru ....................... Gustavo Saberbein Chevalier .............. Waher Reinafarje BazanPhilippines ....................... Vicente R. Jayme .................. Solita C. Monsod

Poland ....................... Wladyslaw Baka ................ .. Grzegorz VWojtowiczPortugal' ....................... Miguel Cadilhe ........ (vacant)Qatar' ....................... Abdul Aziz Khalifa Al-Thani ............... Madhat Abdul Latif MasoudRomania, ....................... Gheorghe Paraschiv .................. Gheorghe PopescuRwanda ....................... Vincent Ruhamanya .................. Emmanuel Ndahimana

St. Kitts and Nevis ................... Kennedy A. Simmonds .................. William V. HerbertSt. Lucia ....................... John G. M. Compton .................. Dwight VennerSt. Vincent and the Grenadines .......... James F Mitchell .................. Henry GaynesSao Tome and Principe ................ Teotonio Angelo d'Alva Torres ............. Manuel de Nazare MendesSaudi Arabia ....................... Mohammad Abalkhail .. ...... Hamad Saud Al-Sayari

Senegal ....................... Djibo Laity Ka .................. Youssouf DiopSeychellesa ....................... D. de St. Jorre .................. Bertrand RassoolSierra Leone ....................... Hassan G. Kanu ............ ...... A. M. DohertySingapore, ....................... Richard Hu Tsu Tau .................. Lee Ek TiengSolomon Islands .................... George Kejoa ........... ....... George Lepping

Somalia ....................... Abdirahman Jama Barre ................. Abdulkadir Aden MohamudSouth Africa ....................... G. P. C. de Kock .................. J. A. LombardSpain .................... ... Carlos Solchaga Catalan ................. Madano Rubio JimenezSri Lanka ....................... M. H. M. Naina Marikar .................. C. ChanmugamSudan ....................... Omar Nour El Daim .................. El Sayid Ali Zaki

Suriname ....................... Subhas Ch. Mungra .................. Andre E. LisseSwaziland ....................... Andreas Fakudze .................. Noreen N. MaphalalaSweden ....................... Kiell-Olof Feldt .................. Lena Hjelm-WallenSyrian Arab Republic ................. Mohammed Khaled Mahayni .............. Marwan KodsiTanzania ....................... Cleopa D. Msuya .................. Gilman Rutihinda

Thailand ....................... Suthee Singhasaneh .................. Panas SimasathienTogo ....................... Barry Moussa Barque .................. Klutse KwassiTonga ....................... James Cecil Cocker .................. Selwyn Percy JonesTrinidad and Tobago .................. A. N. R. Robinson .................. Selby WilsonTunisia ....................... Mohamed Ghannouchi .................. Zein Mestiri

Turkey ....................... Yavuz Canevi ........... ....... Yener DingmenUganda ....................... Yoweri Kyesimira .................. Sulaiman KiggunduUnited Arab Emirates ................. Hamdan Bin Rashid Al Maktoum ........... Ahmed Humaid Al-TayerUnited Kingdom ..................... Robin Leigh-Pemberton .................. Sir Peter MiddletonUnited States ....................... James A. Baker Ill .................. W. Allen Wallis

Uruguay' ....................... Ricardo Zerbino Cavajani ................. Ariel DavrieuxVanuatu ....................... Sela Molisa ......... ......... Martin TamataVenezuela' ....................... Modesto Freites Pinate .................. Hector HurtadoViet Nam ....................... Lu Minh Chau ............. ..... Le HoangWestern Samoa ..................... Tuilaepa S. Malielegaoi .................. Kolone Va'ai

Yemen Arab Republic ................. Mohammed Saeed AI-Attar ............... Kaid Mohammed Al-HirwiYemen, People's Democratic Republic of ... Farag Bin Ghanem .................. Abdulla Saeed AbaddanYugoslavia ....................... Svetozar Rikanovic .................. Boris SkapinZaire ....................... Kamitatu Massamba .................. Kinzonzi Mvutukidi NginduZambia ....................... Gibson G. Chigaga .................. Leonard Nkhata

Zimbabwe ................ B. T. G. Chidzero .................. K. J. Moyana

a. Member of the IBRD only.

Appendix 2 199

Executive Directors and Alternates Appendix 2of the World Bank andTheir Voting PowerJune 30, 1988

IBRO IDATotal % of Total % of

Executive director Alternate Casting votes of votes total votes total

AppointedRobert B. Keating .......... (vacant) ................ United States .................. 148,957 18.93 1,057,107 18.22

Mitsukazu Ishikawa ........ Yukio Yoshimura ......... Japan ..................... 52,876 6.72 537,655 9.27

Gerhard Boehmer ......... Michael von Harpe ........ Federal Republic of Germany ...... 40,882 5.20 414,497 7.14

Helene Ploix ............. Olivier Debains .......... France ..................... 39,197 4.98 227,465 3.92

Frank Cassell ............. J. A. L. Faint ............ United Kingdom ................ 39,197 4.98 358,528 6.18

ElectedFrank Potter ..... Horace Barber ....... Antigua and Barbudaa, The

(Canada) (Jamaica) Bahamas', Barbados', Belize,Canada, Dominica, Grenada, Guyana,Ireland, Jamaicaa, St. Kitts and Nevis,St. Lucia, St. Vincent and theGrenadines ................... 36,587 4.65 258,570 4.46

Mercedes Rubio ........... Francisco Vannini ........ Costa Rica, El Salvador, Guatemala,(Spain) (Nicaragua) Honduras, Mexico, Nicaragua,

Panama, Spain, Surinamea,Venezuelaa .................... 36,435 4.63 157,587 2.72

Jacques de Groote ......... Heiner Luschin ....... Austria, Belgium, Hungary,(Belgium) (Austria) Luxembourg, Turkey ............. 32,871 4.18 203,167 3.50

Mourad Benachenhou ...... Salem Mohamed Omeish ... Afghanistan, Algeria, Ghana, Iran(Algeria) (Libya) (Islamic Republic of), Libya,

Morocco, Tunisia, Yemen (People'sDemocratic Republic of) .......... 29,990 3.81 114,652 1.98

C. R. Krishnaswamy Rao Sahib M. Mustafizur Rahman ..... Bangladesh, Bhutan, India,(India) ,R;rigir 1 Sri Lanka ...... .............. 29,941 3.80 258,624 4.46

Fawzi Hamad Al-Sultan ...... Mohamed W. Hosny ....... Bahraina, Egypt (Arab Republic of),(Kuwait) (Arab Republic of Iraq, Jordan, Kuwait, Lebanon,

Egypt) Maldives, Oman, Pakistan, Qatara,Syrian Arab Republic, United ArabEmirates, Yemen Arab Republic ..... 29,593 3.76 242,231 4.18

Paul Arlman .... Cvitan Dujmovic ........ Cyprus, Israel, Netherlands,(Netherlands) (Yugoslavia) Romaniaa, Yugoslavia ............ 28,749 3.65 182,775 3.15

C. Ulrik Haxthausen ........ Veikko Kantola ....... Denmark, Finland, Iceland, Norway,(Denmark) (Finland) Sweden ...................... 26,519 3.37 291,456 5.02

Mitiku Jembere ...... J. S. A. Funna ....... Botswana, Burundi, Ethiopia, The(Ethiopia) (Sierra Leone) Gambia, Guinea, Kenya, Lesotho,

Liberia, Malawi, Mozambique,Nigeria, Seychellesa, Sierra Leone,Sudan, Swaziland, Tanzania, Trinidadand Tobago, Uganda, Zambia,Zimbabwe ................ ... 25,540 3.25 215,893 3.72

(continued)


Executive Directors and Alternates Appendix 2of the World Bank andTheir Voting Power (continued)June 30, 1988

IBRD IDATotal o/% of Total % of

Executive director Alternate Casting votes of votes total votes total

Mario Draghi ............. Rodrigo M. Guimaraes ..... Greece, Italy, Maltaa, Portugal' .... 25,454 3.23 166,150 2.86(Italy) (Portugal)

Xu Naijiong .............. Zhang Junyi ............ China .25,392 3.23 117,316 2.02(China) (China)

Jobarah E. Suraisry ........ Abdulaziz Al-Sehail ........ Saudi Arabia .25,390 3.23 155,193 2.68(Saudi Arabia) (Saudi Arabia)

Murray A. Sherwin ......... Robert G. Carling ......... Australia, Kiribati, Korea (Republic(New Zealand) A1i:ritr of), New Zealand, Papua New

Guinea, Solomon Islands, Vanuatu,Western Samoa ..... ........... 24,861 3.16 151,765 2.62

Pedro Sampaio Malan ...... Carlos Sanclemente ....... Brazil, Colombia, Dominican(Brazil) (Colombia) Republic, Ecuador, Haiti, Philippines . 23,912 3.04 179,402 3.09

Mohd. Ramli Wajib ......... Kikham Vongsay ........ Burma, Fiji, Indonesia, Lao People's(Malaysia) (Lao People's Democratic Republic, Malaysia,

Democratic Republic) Nepal, Singaporea, Thailand, Tonga,Viet Nam ...... .............. 22,544 2.86 187,667 3.23

Felix Alberto Camarasa ..... Claudio A. Pardo ........ Argentina, Bolivia, Chile, Paraguay,(Argentina) (Chile) Peru, Uruguaya ..... ........... 21,035 2.67 129,051 2.22

Andre Milongo ...... Jean-Pierre Le Bouder ..... Benin, Burkina Faso, Cameroon,(People's Republic (Central African Cape Verde, Central African Republic,

of the Congo) Republic) Chad, Comoros, Congo, (People'sRepublic of the), Cote d'lvoire,Djibouti, Equatorial Guinea, Gabon,Guinea-Bissau, Madagascar, Mali,Mauritania, Mauritius, Niger, Rwanda,Sao Tom6 and Principe, Senegal,Somalia, Togo, Zaire ............. 21,013 2.67 194,568 3.35

In addition to the executive directors and alternates shown in the foregoing list, the following also served after June 30, 1987

Executive director End of period of service Alternate director End of period of service

Tim Lankester ....... January 24, 1988 Mohammad A. Al-Shawi ............. July 31, 1987(United Kingdom) (Saudi Arabia)

Kenji Yamaguchi ....... August 9,1987 Hugh Foster ..... October 6, 1987(Japan) (United States)

Zenbei Mizoguchi .June 17, 1988(Japan)

NOTE: Democratic Kampuchea (464 votes in IBRD and 7,826 votes in IDA), Poland (499 votes in IBRD and 6,670 votes in IDA), and South Africa (7,805votes in IBRD and 19,760 votes in IDA) did not participate in the 1986 regular election of executive directors.a. Member of the IBRD only.

Appendix 3 201

Officers and Department Directors Appendix 3

of the World BankJune 30, 1988

President .......................................... Barber B. Conable*Senior Vice President, Policy, Planning, and Research ..................................... W David Hopper-Senior Vice President, Operations .................. ....................... Moeen A. Oureshi**Senior Vice President, Finance . ......................................... Ernest Stern*Senior Vice President, External Affairs and Administration ..... ............................ Willi A. Wapenhans**

FinanceVice President and Controller .............. .................... . ..... Sune B. CarlssonVice President and Treasurer ......................................... Donald RothVice President, Financial Policy and Risk Management ......................... .......... D. Joseph Wood

OperationsVice President, Latin America and the Caribbean Regional Office ............ ................ S. Shahid HusainVice President, Cofinancing ......................................... Kunihiko InakageVice President, Africa Regional Office ......................................... Edward V. K. JaycoxVice President, Asia Regional Office ......................................... Attila KaraosmanogluVice President, Europe, Middle East, and North Africa Regional Office ......... ................ Wilfried P. ThalwitzVice President. Financial Intermediation Services ............................... ......... Vacant

Policy, Planning, and ResearchVice President, Development Economics and Chief Economist ............... ................ Stanley FischerVice President, Sector Policy and Research .......................................... Visvanathan Rajagopalan

Operations EvaluationDirector-General, Operations Evaluation . ......................................... Yves Rovani

LegalVice President and General Counsel . .......................................... Ibrahim F. I. Shihata**

Secretary'sVice President and Secretary ......................................... Timothy I Thahane**

External Affairs and AdministrationVice President, Personnel .......................................... William J. Cosgrove

FinanceDirector, Cashier's Department ............... .......................... Hywel M. DaviesDeputy Treasurer and Director, Treasury Operations ....................................... Stephen D. EcclesDirector, Financial Operations Department .......................................... Jessica P. EinhornDirector, Investment Department .................. ........................ Bernard J. HollandDirector, Tokyo Office ......................................... Akira lidaDirector, Loan and Trust Fund Department .......................................... James H. JenningsDirector, Resource Mobilization Department ......................................... Basil G. KavalskyDirector, Risk Management and Financial Policy Department ................ ................ D. C. Rao

OperationsDirector, Debt Management and Financial Advisory Services ............... ................. David R. BockDirector, Economic Advisory Staff .................. ....................... Vinod DubeyDirector, Central Operations Department ......................................... Ducksoo LeeDirector, Operations Staff ........... .............................. Heinz Vergin

Africa Regional OfficeDirector, Country Department ............ ............................. Michael J. GilletteDirector, Country Department .............. ........................... Paul IsenmanDirector, Country Department ........... .............................. Caio K. Koch-WeserDirector, Country Department . ......................................... Callisto E. MadavoDirector, Country Department .............. ............... . .......... Sven SandstromDirector, Country Department .............. ........................... M. Ismail SerageldinDirector, Technical Department . ......................................... Hans Wyss

(continued)


Officers and Department Directors Appendix 3

of the World Bank (continued)

June 30, 1988

Asia Regional OfficeDirector, Country Department ................................ Bilsel AlisbahDirector, Country Department ................................ Shinji AsanumaDirector, Country Department ................................ Shahid Javed BurkiDirector, Country Department ................................. Russell J. CheethamDirector, Country Department ................................ Gautam S. KajiDirector, Technical Department ................................ Amnon Golan

Europe, Middle East, and North Africa Regional OfficeDirector, Country Department ................................ Kemal DervisDirector, Country Department ................................ Hans-Eberhard KdppDirector, Country Department ................................ Eugenio F. LariDirector, Country Department ................................ Everardus J. StoutjesdijkDirector, Technical Department ................................ Abderraouf Bouhaouala

Latin Americaand the Caribbean Regional OfficeDirector, Country Department .................................. Pieter P. BottelierDirector, Country Department ................................ Armeane M. ChoksiDirector, Country Department. ................................ Ping-Cheung LohDirector, Country Department ................................ Rainer B. SteckhanDirector, Technical Department ................................ Everardo C. Wessels

Policy, Planning, and ResearchDirector, International Economics Department ................................ Jean BanethDirector, Industry and Energy Department ........... ..................... Anthony A. ChurchillExecutive Secretary, Consultative Group on International Agricultural Research ....... ............ Curtis FarrarDirector, Population and Human Resources Department ................ ................... Ann 0. HamiltonDirector, Country Economics Department ............................................. John A. HolsenDirector, Planning and Budgeting Department ........................................... Robert PicciottoDirector, Environment Department ............................................ Kenneth PiddingtonDirector, Infrastructure and Urban Development Department ............. ................... Louis Y. PouliquenDirector, Strategic Planning and Review Department . ..................................... Alexander ShakowDirector, Agriculture and Rural Development ............................................ Vijay VyasaDirector, Economic Development Institute ............................................ Christopher R. Willoughby

Operations EvaluationDirector, Operations Evaluation Department ............................................ Ram Kumar Chopra

LegalAssociate General Counsel ......................................... Hugh N. Scott

External Affairs and AdministrationDirector, External Attairs Department ...................... ................... Francisco J. Aguirre-SacasaDirector, Health Services Department ......................................... Eugene Joseph Chap, M.D.aDirector, Publications ......................................... James K. FeatherDirector, Policy, Planning, and Information Department .................................... Ian M. HumeDirector, Information, Technology, and Facilities Department ............... ................. Harinder S. KohliAuditor General, Internal Auditing Department ......................................... Alan Douglas LeggDirector, European Office ... ...................................... VacantDirector, General Services Department ......................................... Richard B. LynnDirector of Intormation; and Chief, Media and Communications Division ........................ Frank R. Vogl

Chairman, President's Council.Member, President's Council.

a. Acting.

Appendix 4 203

Offices of the World Bank Appendix 4

June 30, 1988

Headquarters: 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.New York Office G. David Loos The VWorld Bank Mission to the

Special Representative to the United Nations United NationslNew York Office747 Third Avenue (26th floor)New York, N.Y. 10017, U.S.A.

European Office Vacant The World Bank66, avenue d'lena75116 Paris, France

Geneva Office volfgang E. Siebeck The Vorld BankWorld Bank Representative to ITC Building

United Nations Organizations-Geneva 54, rue de MontbrillantGeneva, Switzerland

(mailing address: P.O. Box 1041211 Geneva 20 CIC, Switzerland)

Tokyo Office Akira lida The World BankDirector Kokusai Building (Room 916)

1-1 Marunouchi 3-chomeChiyoda-ku, Tokyo 100, Japan

Regional Mission Peter Eigen The World Bankin Eastern Africa Director Reinsurance Plaza (5th and 6th floors)

Taita RoadNairobi, Kenya

(mailing address: P.O. Box 30577)Regional Mission Elkyn Chaparro The WMrld Bank

in Western Africa Chief Corner of Booker Washington & JacquesAKA Streets

Cocody Abidjan 01, Cote d'lvoire(mailing address: B.P. 1850)

Regional Mission Philippe Annez The Wrld Bankin Thailand Chief Udom Vidhya Building (5th floor)

956 Rama IV Road, Sala DaengBangkok 10500, Thailand

Bangladesh Francis S. B. L. van Gigch Resident MissionChief The World Bank

3A ParibaghDhaka 1000, Bangladesh

(mailing address: G.P.O. Box 97)Benin Shigeo Katsu The World Bank

Resident Representative Zone R@sidentielle de la RadioCotonou, Benin

(mailing address: B.R 03.2112)Bolivia Fernando Mendoza Banco Mundial

Resident Representative Edificio BISA (40 Piso)16 de Julio 1628La Paz, Bolivia

(mailing address: Casilla 8692)Brazil George Papadopoulos Banco Mundial

Resident Representative Setor Comercial SulQuadra 2, Numero 78Edificio OK, 4 AndarBrasilia, OF 70.300, Brazil

(continued)


Offices of the.World Bank (continued) Appendix 4

June 30, 1988

Brazil George Papadopoulos Banco MundialResident Representative clo Furnas Centrais Eletricas S.A.

Rua Real Grandeza, 219Bloco C, Nono AndarRio de Janeiro, RJ 24000 Brazil

Brazil Edward B. Rice Banco Mundial, Sl127Resident Representative Edificio SUNENE

Cidade Universitada50,000 Recife, PE. Brazil

Burkina Faso Claude R. Delapierre The World BankResident Representative Immeuble BICIA (3eme etage)

Ouagadougou, Burkina Faso(mailing address: B.P. 622)

Burundi Maurice Gervais The World BankResident Representative 45, avenue de la Poste

Bujumbura, Burundi(mailing address: B.R 2637)

Cameroon Raymond Rabeharisoa The World BankResident Representative Immeuble Kennedy

Avenue KennedyYaounde, Cameroon

(mailing address: B.P. 1128)

Central African Republic Jean-Paul Dailly The World BankResident Representative Rue des Missions

Bangui, C.A.R.(mailing address: B.P. 819)

China Edwin R. Lim The World BankChief Xiyuan Hotel Compound

Building No. 3 (3rd floor)Erligou Xi JiaoBeijing, China

(mailing address: P.O. Box 9509)

Colombia Laurens Hoppenbrouwer Banco MundialResident Representative Edificio "Aseguradora del Valle"

Carrera 10, No. 2455 (Piso 17)Bogota D.E., Colombia

(mailing address: Apartado Aereo 10229)

Congo, People's Mamadou Dia The World BankRepublic of the Resident Representative Avenue Amilcar Cabral

Immeuble ARC (5eme etageBrazzaville, Congo

(mailing address: B.R 14536)

Ethiopia Michael H. Payson The World BankResident Representative I.B.T.E. New Telecommunications

Building (lst floor)Churchill RoadAddis Ababa, Ethiopia

(mailing address: RO. Box 5515)

Ghana Seung Hong Choi The World BankResident Representative 69 Eighth Avenue Extension

Northridge Residential AreaAccra, Ghana

(mailing address: PO. Box M27)

Appendix 4 205

Guinea Abderraouf Benbrahim Banque mondialeResident Representative Cite des Nations, Villa 39

Conakry, Guinea(mailing address: B.R 1420)

India Jochen Kraske Resident MissionChief The World Bank

55 Lodi EstateNew Delhi 3, India


Indonesia Attila Sonmez The World BankDirector Jalan Rasuna Said, Kav. Bi10 (Suite 301)

Kuningan, Jakarta 12940, Indonesia(mailing address: P.O. Box 324/JKT)

Madagascar Jose A. Brontman Banque mondialeResident Representative 1, rue Patrice Lumumba

Antananarivo 101, Madagascar(mailing address: Banque mondiale B.P. 4140)

Malawi Peter Hall The World BankResident Representative Red Cross House

Capital CityLilongwe 3, Malawi

(mailing address: RO. Box 30557)

Mali Michael J. Furst The World BankResident Representative Immeuble CNAR

Rue Square LumumbaBamako, Mali


Mauritania Etienne Baranshamaje The vWorld BankResident Representative Villa No. 30, ILOT A

Quartier SocofimNouakchott, Mauritania


Mexico Marko Voljc Banco MundialResident Representative Nacional Financiera, S.N.C.

Isabel La Catolica No. 51Primer PisoColonia Centro06006 Mexico City, D.F. Mexico

Nepal Richard N. Woodford The World BankResident Representative Jyoti Bhawan, Kantipath

Kathmandu, Nepal(mailing address RO. Box 798)

Niger Helmut Sanger The World BankResident Representative Immeuble BDRN

Niamey, Niger(mailing address: Banque mondiale B.P 12402)

Nigeria Tariq Husain The World BankResident Representative Plot 1309A

Karimu Kotun StreetVictoria IslandLagos, Nigeria

(mailing address: PO. Box 127)

(continued)


Offices of the World Bank (continued) Appendix 4

June 30, 1988

Pakistan Luis de Azcarate The World BankChief PO. Box 1025

Islamabad, Pakistan

Peru Vacant Banco MundialAvenida Central 643 (10 Piso)Lima, Peru

(mailing address: Apartado 4480)

Philippines Rolando R. Arrivillaga The World BankResident Representative Central Bank of the Philippines

Multi-storey Building, Room 200Roxas BoulevardManila, Philippines

Rwanda Melvin J. Loewen The World BankResident Representative Blvd. de la Revolution

BRD BuildingKigali, Rwanda


Saudi Arabia Roger E. Rowe Resident MissionDirector The World Bank

Riyadh, Saudi Arabia(mailing address: P.O. Box 5900)

Senegal Franz H. Kaps The Morld BankResident Representative Immeuble S.D.I.H.

3 Place de l'lndependanceDakar, Senegal

Somalia Brian H. Falconer The World BankResident Representative Savoy Centre (2nd floor)

Mogadishu, Somalia(mailing address: P.O. Box 1825)

Sri Lanka George West The World BankResident Representative Development Finance

Corporation of Ceylon(DFCC) Building, 1st Floor73/5 Galle RoadColombo 3, Sri Lanka


Sudan Jasdip Singh The World BankResident Representative Sudan Kuwaiti Centre

Tower No. 1 (7th floor)Nile AvenueKhartoum, Sudan

(mailing address: RD. Box 2211)

Tanzania Ian C. Porter The World BankResident Representative N.I.C. Building (7th floor, B)

Dar es Salaam, Tanzania(mailing address: RD. Box 2054)

Togo Emmanuel Mbi The World BankResident Representative 169, rue du 13 janvier

Immeuble BTCI (8eme etage)Lome, Togo


Appendix 4 207

Turkey James ChaHfey The World BankResident Representative Ataturk Bulvari 211

Gama-GurisBuilding Kat 606683 Kavaklidere,Ankara, Turkey

Uganda Grant Slade The World BankResident Representative RO. Box 4463

Kampala, Uganda

Zaire Jerome Chevallier The Morld BankResident Representative Building UZB

Avenue des AviateursKinshasa 1, Republic of Zaire


Zambia Uche G. Mbanefo The World BankResident Representative CMAZ Building

Ben Bella RoadLusaka, Zambia


Zimbabwe Mahmud A. Burney The World BankResident Representative CABS Centre (12th floor)

Stanley AvenueHarare, Zimbabwe

(mailing address: PO. Box 2960)

UiThe World Bank

Headquarters

1818 H Street, NW.Washington, D.C, 20433, UL

Telephone: (202) 477-1234Telex: RCA 248423 WORL[E,E

WUI 64145 WORLDB'N JFCable address: INTBAFRAE,

WASHINGT, ,i ILl

European Office

66, avenue d'lena75116 Paris, France

Telephone: (1) 47.23.54 21Telex: 842-620628

Tokyo Office

Kokusai Building1-1, Marunouchi 3-chomeChiyoda-ku, Tokyo 100, Ja[y ir

Telephone: (03) 214-5001Telex: 781-26838

ISSN 0252-2942IB 1053

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