World Bank President Robert B. Zoellick to visit Mexico, Colombia

Contacts:
Sergio Jellinek  +1 (202) 294-6232
sjellinek@worldbank.org

In Mexico City: Fernanda Zavaleta (5255) 54-80-4252

fzavaleta@worldbank.org

In Bogota: Gabriela Aguilar (571) 326-3600 ext 259

gaguilar2@worldbank.org

WASHINGTON, April 30^th, 2008 – World Bank Group President Robert B. Zoellick will visit Mexico and Colombia next week to learn first hand how these two middle-income countries are moving forward in implementing ambitious development strategies. His visit signals new ways of cooperation between the World Bank and emerging economies in the region.

“This is my first visit to Latin America as World Bank Group President”, said Mr. Zoellick. “Mexico is a leading economy in the region with a global presence that will continue to expand, while Colombia has achieved remarkable progress in the last few years. These middle- income countries are working very hard to achieve a more inclusive and sustainable development. The World Bank Group supports their efforts through a diversified menu of programs, innovative financing and knowledge sharing adapted to the specific circumstances of each country.”

Earlier this month, the World Bank Board of Executive Directors approved new Country Partnership Strategies for Mexico and Colombia, which include flexible financing, advisory and technical assistance services adapted to their needs, as well as long-term loans with competitive interest rates and maturities.

During his visit to Mexico (May 6-7), Mr. Zoellick will meet President Felipe Calderón and sign a recently approved climate change loan for US$501.25 million. He will also discuss the region’s present economic situation, the world food crisis and the growing role played by Mexico as a leader on global issues such as climate change. Mr. Zoellick will meet cabinet members, including Augustin Carstens, Mexico’s Minister of Finance and Public Credit who chairs the “Development Committee”, The World Bank's highest policy setting body.  Mr. Zoellick will also meet members of the Chamber of Deputies and the Senate, as well as private sector and student representatives.

In Colombia (May 8), Mr. Zoellick will meet President Álvaro Uribe and members of his cabinet.  He will also meet with the Mayor of Bogota, Samuel Moreno, and representatives from the private sector with whom he will discuss the progress that Colombia has made in establishing an improved investment climate and the challenges ahead. In April, the World Bank approved a US$550 million loan to promote business activity in Colombia and support the reform process to enhance the competitiveness of  the country. In March, a $300  million loan was approved to support Colombia’s student loan program. It offered extended maturities and a local currency loan, with the World Bank hedging the currency risk.