|
|
|
|
 |
World Bank Historical Chronology: 1970-1979
|
|
|
 1970 | | 1970 | International events | Nigerian civil war ends with the collapse of Biafran resistance. Military coup removes Cambodia's head of state Norodroi Sihanouk. US and south Vietnamese forces invade Cambodia to cut supply lines of North Vietnamese. Willy Brandt, Chancellor of West Germany, opens negotiations with East Germany and Warsaw pact powers. Four students protesting the Vietnam war are killed by National Guard at Kent State University in Ohio. In Chile, Marxist leader Salvador Allende wins election as president and institutes radical Marxist program of wholesale nationalization and sweeping social reform. General upsurge of airplane hijackings and other terrorist attacks throughout the world. First complete synthesis of a gene, at University of Wisconsin. Boeing 747 jumbo jets first enter regular service.
| | 1970 | World Bank Events | | | 1970 | | World Bank establishes resident mission in Zaire. | | 1970 | February 4 | IDA announces $35 million credit (almost entirely for local currency expenditures) to help complete Kadana project for irrigation of about 700,000 acres in west central India. | | 1970 | February 12 | First borrowing by World Bank in Japan (equivalent to US $100 million) announced. | | 1970 | February 14 | Botswana becomes the 53rd member of ICSID. | | 1970 | February 25 | World Bank announces loan of $125 million to help finance Mexico's power expansion program. | | 1970 | March 26 | IDA announces $26 million credit to United Arab Republic to assist in largest tile drainage operation ever undertaken; project will provide drainage for nearly a million acres of irrigated land in Nile River delta. | | 1970 | March 31 | In a memorandum to the Executive Directors, President McNamara proposes the formation of a Consultative Group for the support of existing and new international agricultural research organizations. (The Consultative Group for International Agricultural Research, or CGIAR, is formally established May 19, 1971) | | 1970 | April 1 | World Bank establishes Resident Mission in Lagos, Nigeria, headed by Mahmud A. Burney. | | 1970 | April 15 | IFC Articles of Agreement signed by Congo (Leopoldville), becoming the 93rd member of IFC. | | 1970 | April 24 | IDA credit of $75 million to India for industrial imports signed. | | 1970 | May | Joint Bank-IFC Audit Committee is established. | | 1970 | May | The formation of a Consultative Group for support of existing and new international agricultural research institutes is announced. | | 1970 | May 7 | Hollis B. Chenery appointed economic adviser to the President of the World Bank, replacing Irving Friedman. | | 1970 | May 20 | World Bank loan of $80 million to Brazil for electric power announced. | | 1970 | May 22 | IBRD, IFC and IDA Articles of Agreement signed by Yemen Arab Republic (Yemen), becoming the 113th member of the Bank, the 94th member of IFC and the 105th member of IDA. | | 1970 | May 26 | First funding for The Gambia: Credit 0187 Bathurst Port Project. | | 1970 | May 29 | Democratic Republic of the Congo becomes the 54th member of ICSID. | | 1970 | June 3 | IDA provides credit of $35 million to India for an agricultural credit program in State of Gujurat. | | 1970 | June 4 | IDA, Asian Development Bank, US Agency for International Development, and Overseas Economic Cooperation Fund of Japan jointly provide Indonesia the equivalent of $68 million to finance foreign exchange costs of a fertilizer plant. | | 1970 | June 17 | First funding for Rwanda: Credit 0196 - Roads Project. | | 1970 | June 22 | Loan approved of $2 million to Jamaica to support the government's family planning program (Bank's first loan for family planning). | | 1970 | June 30 | The Bank Group's commitments for the fiscal year 1970 exceeded $2 billion for the first time. | | 1970 | July 1 | IBRD Articles of Agreement signed by Equatorial Guinea, becoming the 114th member of the Bank. | | 1970 | July 1 | Ladislaus von Hoffmann succeeds James S. Raj as Vice President of IFC. | | 1970 | July 6 | World Bank announces that it will open an office in Tokyo, headed by Aritoshi Soejima. | | 1970 | July 16 | Liberia becomes the 55th member of ICSID. | | 1970 | July 17 | Zambia becomes the 56th member of ICSID. | | 1970 | July 22 | IBRD and IDA Articles of Agreement signed by Cambodia, becoming the 115th member of the Bank and the 106th member of IDA. | | 1970 | July 22 | IDA announces agreement on its third replenishment at a level permitting credits of approximately $813 million a year for a three year period (first payments scheduled for November 8, 1971). | | 1970 | August 29 | Luxembourg becomes the 57th member of ICSID. | | 1970 | September 2 | Operations Evaluation Unit is established to evaluate Bank Group operations. | | 1970 | September 9 | World Bank announces approval of a $30 million reconstruction loan to Peru for road improvement in area affected by the recent earthquake. | | 1970 | September 26 | Belgium becomes the 58th member of ICSID. | | 1970 | October 1 | Meeting to consider the establishment of a Consultative Group for the Philippines held in Paris. | | 1970 | October 9 | IDA Articles of Agreement signed by People's Democratic Republic of Yemen, becoming the 107th member of IDA. | | 1970 | October 20 | IFC Articles of Agreement signed by Gabon, becoming the 95th member of IFC. | | 1970 | November 5 | Luis Escobar appointed Special Representative for Inter-American Organizations to improve liaison with regional organizations. | | 1970 | November 18 | President McNamara sends telegram to Yahya Khan, President of Pakistan, pledging World Bank assistance to help areas of East Pakistan devastated by the recent cyclone. | | 1970 | November 27 | Announcement that George Gabriel will succeed Francis R. Poore as Controller of the Bank Group; Andrew Kamarck will succeed K. S. Krishnaswamy as Director of EDI. | | 1970 | December 31 | Authorized capital of the World Bank increased from $24 billion to $27 billion. |
1971 | | 1971 | International events | General Idi Amin overthrows President Obote and becomes dictator of Uganda, initiating a period of extreme violence and terror until his overthrow in 1980. President Nixon and Secretary of State Kissinger pursue policy of "detente" with the Soviet Union. Kissinger secretly visits Beijing. People's Republic of China admitted to the UN in place of Taiwan. United States informs IMF it will no longer freely buy and sell gold to settle international transactions, suspending the convertibility of gold. Par values and convertibility of the dollar - two main features of Bretton Woods system - are suspended. Sterling floated in 1972; franc floated in 1973. The Smithsonian Agreement on exchange rates is concluded. The dollar is devalued against major currencies. Civil war in Pakistan between East and West Pakistan. India intervenes, defeating the Pakistani army. Bangladesh becomes independent (December 16). US astronauts continue manned exploration of moon's surface. US and USSR explore Mars. Human growth hormone synthesized at University of California.
| | 1971 | . | World Bank establishes Resident Missions in Brasilia, Brazil, Nepal, and Ghana. | | 1971 | January 1 | Central Economics Staff is reorganized into three units: the Economics Department; the Economic Program Department; and the Development Research Center. All units report to the economic adviser to the President. | | 1971 | January 13 | McNamara announces $25 million IDA assistance for cyclone-devastated East Pakistan. | | 1971 | February 1 | Japan becomes one of the five largest subscribers to the Bank's authorized capital stock (displacing India) and is thus entitled to appoint an Executive Director. | | 1971 | February 1 | Department of Computing Activities established in the Bank, headed by Mervin Muller. | | 1971 | February 9 | John Philip Hayes appointed Director of Economic Program Department. | | 1971 | March 25 | Capital Markets Department in IFC is established as focal point within Bank Group for encouraging growth of capital markets in developing countries. | | 1971 | April 21 | Italy becomes the 59th member of ICSID. | | 1971 | April 21 | First funding for Republic of Yemen: Credit 0240 - Highway Project (01). | | 1971 | April 22 | First meeting of the Consultative Group for the Philippines held in Paris. | | 1971 | April 22 | Sector Program Paper on Water Supply and Sewerage is published, the first of a series. | | 1971 | May 6 | First meeting of the Consultative Group for the Democratic Republic of the Congo held in Paris. | | 1971 | May 11 | First meeting of the Consultative Group for Ethiopia held in Paris. | | 1971 | May 18 | First loan ($15 million) for pollution control (river pollution in Sao Paolo, Brazil). | | 1971 | May 19 | The newly founded Consultative Group on International Agricultural Research (CGIAR) convenes in Washington under chairmanship of the Bank, but with its Technical Advisory Group (TAG) headquartered at FAO, Rome. | | 1971 | May 20 | Announcement of the Bank's first loan entirely for research - $12.7 million to Spain to help establish six national agricultural research centers. | | 1971 | May 28 | IBRD Articles of Agreement signed by Fiji, becoming the 116th member of the Bank. | | 1971 | June 10 | IFC Articles of Agreement signed by Trinidad and Tobago, becoming the 96th member of IFC. | | 1971 | June 21 | Announcement made of the first tourism project loans made by the Bank, in Yugoslavia. | | 1971 | June 24 | Austria becomes the 60th member of ICSID. | | 1971 | June 25 | Twenty-fifth anniversary of the Bank's opening for business in 1946. | | 1971 | June 30 | First funding for Fiji: Loan 0771 - Highway Project. | | 1971 | July 14 | Swaziland becomes the 61st member of ICSID. | | 1971 | August 17 | Publication of The Structure of Protection in Developing Countries, by Bela Balassa, analyzing existing policies, and providing guidelines on an "ideal" policy of protection. | | 1971 | September 1 | Bank enters into agreement with World Health Organization to establish a jointly financed cooperative program in the fields of water supply, waste disposal, and storm drainage. | | 1971 | October | Iceland, a Part II member of IDA since 1961, is the first country to change to Part I status. | | 1971 | December 17 | First direct borrowing by the World Bank from a commercial bank in North America: Bank of Montreal lends Can$50 million, with a maturity of eight years. | | 1971 | December 23 | IBRD Articles of Agreement signed by Oman, becoming the 117th member of the Bank. |
1972 | | 1972 | International events | British troops file on Republican demonstrators in "Bloody Sunday" confrontation. Britain reimposes direct rule from London on Northern Ireland. US President Nixon visits China. First Strategic Arms Limitation Treaty (SALT) is signed between US and USSR. Israeli athletes massacred by "Black September" Palestinian terrorists during Summer Olympics in Munich. Nixon White House officials authorize Watergate break-in.
| | 1972 | January 7 | Under the guidance of a Bank steering committee, consultants begin comprehensive examination of the Bank's organization and structure. | | 1972 | February 3 | World Bank grants $1.26 million to Consultative Group for International Agricultural Research (CGIAR) for research programs. | | 1972 | February 25 | World Bank Group Staff Association comes into existence. | | 1972 | March 24 | Bank of Japan and IBRD sign a loan agreement by which the Bank of Japan agrees to lend the World Bank Yen 100 billion. It is the largest single borrowing to date in the history of the World Bank. | | 1972 | March 31 | World Bank publishes Population Sector study. | | 1972 | April 5 | IDA Articles of Agreement signed by Equatorial Guinea, becoming the 108th member of IDA. | | 1972 | May 15 | World Bank publishes Industry Sector working paper. | | 1972 | June 2 | Egypt becomes the 62nd member of ICSID. | | 1972 | June 7 | McNamara addresses the United Nations Conference on the Human Environment in Stockholm. | | 1972 | June 28 | World Bank publishes Tourism Industry Sector study. | | 1972 | June 30 | World Bank lending exceeded $3 billion for the first time in fiscal year 1972. The Bank reaches the goal set by President McNamara to provide twice as much assistance in fiscal 1969-73 as it did in the previous five years. For the first time lending for agriculture exceeds that of any other sector. | | 1972 | July | Committee on Reform of the International Monetary System and Related Issues (Committee of Twenty) is established. | | 1972 | July 1 | Mr. Jean P. Carriere replaces Mr. Arthur Karasz as head of the European Office in Paris. | | 1972 | July 17 | World Bank publishes Agriculture Sector study. | | 1972 | July 31 | World Bank publishes Urban Growth Sector study. | | 1972 | August 10 | A major reorganization of the bank is announced to decentralize the Bank's operations. A senior vice presidency of operations is created with five regional vice presidents and a vice president for project staff. Vice presidencies are also created for: Organization Planning and Personnel Management; Development Policy; Finance; and General Counsel. | | 1972 | August 17 | IBRD and IDA Articles of Agreement signed by Bangladesh, becoming the 118th member of the Bank, and the 109th member of IDA. | | 1972 | September 15 | IBRD Articles of Agreement signed by Bahrain, becoming the 119th member of the Bank. | | 1972 | September 22 | IBRD Articles of Agreement signed by United Arab Emirates, becoming the 120th member of the Bank. | | 1972 | September 22 | Third replenishment of IDA resources goes into effect with commitment authority of $2.5 billion for the three-year period fiscal 1972-1974. | | 1972 | September 25 | President McNamara opens Annual Meetings in Washington, warning that official development assistance (ODA) by the wealthier countries is decreasing, and that new approaches are needed to solve the problem of uneven income distribution. | | 1972 | September 25 | IBRD Articles of Agreement signed by Qatar, becoming the 121st member of the Bank. | | 1972 | September 29 | IFC Articles of Agreement signed by Lesotho, becoming the 97th member of IFC. | | 1972 | September 29 | IDA Articles of Agreement signed by Fiji, becoming the 110th member of IDA. | | 1972 | October 16 | World Bank opens Regional Mission in Bangkok, Thailand, headed by Mr. Manfred G. Blobel. The mission will serve Thailand, Malaysia, Laos, Khmer Republic and Vietnam. | | 1972 | October 30 | IDA Articles of Agreement signed by Trinidad and Tobago, becoming the 111th member of IDA. | | 1972 | October 31 | First project audit reports: highway, power and telecommunications lending to Costa Rica. | | 1972 | November 1 | Consultative Group for International Agricultural Research (CGIAR) meetings held in Washington. | | 1972 | November 29 | Jordan becomes the 63rd member of ICSID. | | 1972 | December 15 | IBRD Articles of Agreement signed by Romania, becoming the 122nd member of the Bank. | | 1972 | December 23 | Major earthquake devastates Managua and other parts of Nicaragua. World Bank joins with other international aid organizations to help plan disaster recovery efforts. |
1973 | | 1973 | International events | Britain, Ireland and Denmark join the EEC. Paris Agreement ends US involvement in Indochina
Afghan prime minister Muhammad Daoud overthrows the monarchy and declares Afghanistan a republic with himself as president. In a CIA-assisted coup, Chilean General Augusto Pinochet overthrows Marxist president Salvador Allende and sets up a ruthless military dictatorship. Juan Peron returns to power in Argentina when he is elected president, but dies one year later. Yom Kippur war breaks out when Egypt invades Israel on the Day of Atonement. US aid to Israel precipitates the Arab oil embargo and subsequent energy crisis in the industrial world. Famine strikes Ethiopia.
| | 1973 | . | World Bank establishes Resident Missions in Iran and Tanzania. | | 1973 | February | The first of the Bank's new (internal) country program papers is produced (for Brazil). | | 1973 | February 20 | IFC and IDA Articles of Agreement signed by Oman, becoming the 98th member of IFC, and the 112th member of IDA. | | 1973 | February 20 | Bank of Japan and IBRD announce a loan agreement by which Bank of Japan loans Yen 135 billion to the World Bank, surpassing previous largest loan in March 1972. | | 1973 | March 1 | William Clark appointed Director of External Relations. | | 1973 | March 26 | First funding for Equatorial Guinea: Credit 0362 - Highway Project. | | 1973 | April 1 | Robert S. McNamara begins his second term as President of the Bank. | | 1973 | April 2 | P. N. Damry becomes Secretary of the World Bank Group, replacing Morton M. Mendels, who held the position since 1946. | | 1973 | April 16 | In a memorandum to the Board of Executive Directors, President McNamara proposes that the Bank take the lead in mobilizing international funds for an onchocerciasis (riverblindness) control program. | | 1973 | April 30 | Bank approves a loan to El Salvador for electric power generating and transmission facilities. Features the first geo-thermal power plant financed by the Bank in Latin America. | | 1973 | May 1 | The Executive Directors approve recommendations concerning the Bank's role in fighting onchocerciasis (river blindness disease) in Western Africa. | | 1973 | May 9 | Sudan becomes the 64th member of ICSID. | | 1973 | June 1 | Lars J. Lind retires from the Bank, is replaced by Mr. John E. Merriam as Director of Information and Public Affairs. | | 1973 | June 23 | Meeting of Onchocerciasis (riverblindness) Control Program in Paris, convened by World Bank. WHO, FAO, UNDP, and representatives from twenty governments and aid organizations plan the strategy for fighting river blindness, which is announced in September. | | 1973 | June 30 | Bank Group total development assistance for fiscal year 1973 totals $3,555 million, higher than any previous year, fulfilling McNamara's goal to double the amount of assistance in 1969-1973 as in the previous five years. | | 1973 | August 21 | IBRD Articles of Agreement signed by The Bahamas, becoming the 123rd member of the Bank. | | 1973 | September 5 | Detailed plan of action to control river blindness in the Volta River Basin is presented to the seven African governments; Dahomey, Ghana, Ivory Coast, Mali, Niger, Togo and upper Volta. Plan is created by the joint efforts of the World Bank, UNDP, FAO, and WHO. | | 1973 | September 24 | In his address to the Board of Governors at the annual general meetings in Nairobi, Kenya, President McNamara proposes a strategy for rural development with an emphasis on productivity of smallholder agriculture. He warns that official development assistance (ODA) is inadequate, and that over 800 million people live in absolute poverty. Bank Group financing of development efforts will increase by 40% over the next five years. | | 1973 | October | World Bank establishes Resident Mission in Khartoum, The Sudan, headed by Gautam S. Kaji. | | 1973 | October 18 | World Bank announces loan to Iceland to help rehabilitate fisheries seriously damaged in the volcanic eruption at Vestmannaeyjar earlier that year. | | 1973 | November 1 | Consultative Group for International Agricultural Research (CGIAR) meets in Washington and announces that it will make $33 million available in 1974 to finance international research programs aimed at raising the quantity and quality of food production in developing countries. | | 1973 | November 27 | First meeting of the Consultative Group for Zaire convenes in Paris. | | 1973 | December 21 | The World Bank and the Government of Norway sign an agreement indicating their intention to continue to cooperate in the financing of projects in developing countries. |
1974 | | 1974 | International events | Watergate hearings in US lead to potential constitutional crisis; Richard Nixon resigns presidency and Gerald Ford becomes 38th president. The United States ends capital controls. Military coup in Portugal; Guinea Bissau gains independence from Portuguese rule. In Cyprus, an abortive coup causes Archbishop Makarios to go into exile and provides pretext for Turkish invasion of the northern part of the island. Emperor Haile Selassie is deposed in Ethiopia, and a brutally repressive military regime is established. India conducts underground nuclear tests. IRA terrorists bomb public buildings in London.
| | . | World Bank establishes Resident Missions in Recife, Brazil, in Venezuela, and Zambia. | | 1974 | January | Riverblindness control project is endorsed by the affected African governments, and the fund agreement was signed by Canada, Netherlands, United Kingdom, United States, WHO, and the World Bank. The first funds become available in March 1974. | | 1974 | February 28 | Publication of Prospects for Partnership: Industrialization and Trade Policies in the 1970's, an analysis of trade policies which aim at optimum industrialization in developing countries. | | 1974 | March 4 | Funds covering the first year costs of the riverblindness control project are mobilized. | | 1974 | March 28 | World Bank announces that with its most recent education project (in Malaysia) the total amount of financing provided for education projects exceeds $1 billion, with nearly 100 education projects in 61 countries. | | 1974 | April 25 | First funding for Oman: Loan 0980 - Education Project. | | 1974 | June 26 | Meeting on the Control of Riverblindness in West Africa held in Paris, attended by representatives of 14 nations, and 6 international aid organizations. | | 1974 | June 28 | IBRD, IFC and IDA Articles of Agreement signed by Western Samoa (Samoa), becoming the 124th member of the Bank, the 99th member of IFC, and the 113th member of IDA. | | 1974 | June 28 | First funding for Romania: Loan 1020 - Tecuci Fertilizer Project. | | 1974 | July 1 | Senior staff appointments: I. P. M. Cargill appointed to Vice President, Finance; William D. Clark appointed Vice President External Relations; Bernard Bell appointed Regional Vice President, East Asia and pacific; S. Shahid Husain appointed Regional Vice President, Eastern Africa; Mervyn L. Weiner appointed Regional Vice President, South Asia. | | 1974 | August | World Bank establishes Resident Mission in Ouagadougou, Upper Volta, headed by Mr. Abdallah El Maaroufi. | | 1974 | August 26 | Publication of Population Policies and Economic Development, analyzing the impact of rising populations on efforts to combat poverty. | | 1974 | September 1 | Ladislaus von Hoffmann becomes Executive Vice President of IFC. | | 1974 | September 12 | IBRD Articles of Agreement signed by Barbados, becoming the 125th member of the Bank. | | 1974 | September 30 | President McNamara opens Annual Meetings in Washington, describing the condition of the world's poor as "appalling", calling for more concessional aid from the wealthy countries, and proposing to increase World Bank lending to the prudent maximum. | | 1974 | September 30 | World Bank publishes Redistribution with Growth, an anti-poverty strategy paper discussing income distribution and economic growth. | | 1974 | October | The Executive Directors approve proposals to directly link the Operations Evaluation Unit to the Executive Directors, to institute the title of Director-General for the manager of the Operations Evaluation Unit, and to separate the Internal Auditing Unit from the Operations Evaluation Unit. | | 1974 | October | The Interim Committee (of the IMF) and the Development Committee (formally, the Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund on the Transfer of Real Resources to Developing Countries) are established. | | 1974 | October 1 | IFC Articles of Agreement signed by Cameroon, becoming the 100th member of IFC. | | 1974 | October 1 | IDA Articles of Agreement signed by New Zealand, becoming the 114th member of IDA. | | 1974 | October 17 | Redistribution with Growth, by Hollis Chenery and others, is published. | | 1974 | October 29 | First meeting of the Bangladesh Aid Group, convened by the World Bank, in Paris. It is the largest aid coordination group chaired by the Bank, with sixteen governments and 4 international aid organizations represented. | | 1974 | October 30 | President McNamara announces the appointment of Julian Grenfell as Special Representative United Nations Organizations, assisted by Mr. Mahmud A. Burney. | | 1974 | November 3 | Consultative Group on International Agricultural Research (CGIAR) meets in Washington and pledges $45 million in support for research programs in 1975. | | 1974 | December 6 | Cooperation Agreement between the Bank and the Federal Republic of Germany is signed, pledging cooperation to enhance their aid to developing countries, and to seek more cofinancing opportunities. | | 1974 | December 18 | World Bank announces its largest single borrowing operation to date - a $750,000,000 placement of its bonds in Saudi Arabia. | | 1974 | December 29 | Education Sector Paper is published. |
1975 | | 1975 | International events | Saigon falls to the North Vietnamese and Vietnam is reunited under Hanoi's rule. Communist Khmer Rouge capture Cambodian capital Phnom Penh and begin reign of terror leaving between one and two million citizens dead. Civil War breaks out in Lebanon. Helsinki Accords are signed at the Conference on Security and Cooperation in Europe, establishing key principles on human rights, security and cooperation. Indonesian forces occupy East Timor after it declares its independence from Portugal. Papua New Guinea becomes independent. Indian prime minister Indira Gandhi seizes dictatorial powers after being accused of electoral improprieties. After years of opposition to nationalist armed struggle, Portugal recognizes the independence of Angola and Mozambique. Civil War breaks out in Angola, and Mozambique becomes involved in conflicts with South Africa and Rhodesia. General Franco dies. King Juan Carlos is restored to the throne, and democracy returns to Spain. US - USSR joint space mission Apollo-Soyuz.
| | 1975 | … | World Bank establishes Resident Mission in Saudi Arabia. | | 1975 | January | The fourth replenishment of IDA resources becomes effective with a commitment authority of $4.5 billion for fiscal 1975-1977. | | 1975 | January 17 | Announcement made that the World Bank, FAO, and UNDP are beginning the first stages of organization for a Consultative Group on Food Production and Investment in Developing Countries (CGFPI), as requested by the World Food Conference of 1974. | | 1975 | January 26 | The Gambia becomes the 65th member of ICSID. | | 1975 | March 9 | Publication of Rural Development: Sector Policy Paper. World Bank announces that it plans to greatly increase its assistance for agriculture and rural development. | | 1975 | March 19 | First funding for Samoa: Credit 0535 - Highways Project. | | 1975 | May 7 | Announcement of the establishment of the Onchocerciasis (Riverblindness) Fund, administered by the World Bank, which will provide over $50 million for the initial six-year phase of the program. | | 1975 | May 26 | Publication of Urban Transport Sector Policy Paper. | | 1975 | June 9 | Publication of Assault on World Poverty, analyzing the causes of poverty, examines ways in which it can be alleviated, and outlines programs through which the Bank plans to help. | | 1975 | June 12 | Third meeting of the Development Committee, in Paris. | | 1975 | June 30 | During fiscal 1975, the IBRD and IDA commit nearly $1 billion for rural development projects. | | 1975 | July 11 | Appointment of Willi Wapenhans as Vice President, Europe, Middle East and North Africa region during the sabbatical leave of Mr. Munir P. Benjenk. | | 1975 | July 29 | Intermediate Financing Facility ("Third Window") - using OPEC and other contributions to an Interest Subsidy Fund to offer interest rates between those of the Bank and IDA – is approved, and comes into effect on December 23. | | 1975 | August 18 | World Bank opens resident mission in Yaounde, Cameroon, headed by Mr. Michel Palein. | | 1975 | August 20 | IFC Articles of Agreement signed by Upper Volta (Burkina Faso), becoming the 101st member of IFC. | | 1975 | August 27 | IBRD and IDA Articles of Agreement signed by Grenada, becoming the 126th member of the Bank, and the 115th member of IDA. | | 1975 | August 28 | IFC Articles of Agreement signed by Grenada, becoming the 102nd member of IFC. | | 1975 | September 1 | President McNamara focuses on urban poverty in his address to the Board of Governors at the annual general meetings. | | 1975 | October 9 | IBRD, IFC and Articles of Agreement signed by Papua New Guinea, becoming the 127th member of the Bank, the 103rd member of IFC, and the 116th member of IDA. | | 1975 | October 12 | Romania becomes the 66th member of ICSID. | | 1975 | October 28 | The Design of Rural Development: Lessons from Africa is published, and is a centerpiece in the Bank's search for ways to counter food shortages and unequal distribution of income. | | 1975 | November 1 | Consultative Group for International Agricultural Research (CGIAR) meets in Washington, and pledges $64 million in research funding for calendar year 1976. | | 1975 | November 6 | IFC Articles of Agreement signed by Rwanda, becoming the 104th member of IFC. | | 1975 | November 6 | Flood recovery project in Romania approved to assist with reconstruction following floods in July 1975. | | 1975 | November 7 | Rural Electrification sector policy paper published. | | 1975 | December 16 | The Project Preparation Facility is established. Through this, the Bank provides funding to borrowers for project preparation and institution building. |
1976 | | 1976 | International events | East Timor is formally incorporated into Indonesia; guerilla war continues. Syria intervenes in Lebanese civil war. Israeli commandos free hijacking victims at Entebbe airport in Uganda. Mao Tse Tung dies in Beijing, and power struggles ensues in China between "moderate" reformers and Mao's widow and other members of the "Gang of Four". Argentine military regimes conducts terror campaign killing thousands of citizens. Concorde supersonic airliner begins transatlantic flights.
| | 1976 | ……. | World Bank establishes Resident Mission in Mali. | | 1976 | January 9 | Development Committee held its fifth meeting in Kingston, Jamaica. | | 1976 | January 28 | Bank approves two loans of $26 million to Thailand to assist rural poor. These are the first Bank operations to utilize the "Third Window", the intermediate lending facility of the World bank, whose terms are softened by interest subsidies, resulting in interest rates between the terms of a loan and a credit. | | 1976 | April 6 | Publication of Village Water Supply, a sector policy paper designed to help bring safe water to villages in the developing world. | | 1976 | April 29 | Development Finance Companies sector policy paper published. | | 1976 | May 4 | Executive Directors approve an increase in IFC's capital stock from $110 million to $650 million. | | 1976 | May 25 | Disbursements to East Africa Community are suspended. | | 1976 | June 18 | IFC Articles of Agreement signed by Bangladesh, becoming the 105th member of IFC. | | 1976 | June 28 | Bank approves $19 million loan to Brazil for nutrition (first nutrition loan). | | 1976 | July 16 | Bank approves loans to Guatemala for national reconstruction following the devastating earthquakes of February 4, 1976. | | 1976 | July 16 | Bank approves assistance to Indonesia transmigration program, to move settlers from the overpopulated island of Java to other parts of the country. | | 1976 | October 26 | Consultative Group for International Agricultural Research (CGIAR) meets in Washington, pledging $78 million in research assistance for the calendar year 1977. | | 1976 | October 28 | IBRD Articles of Agreement signed by Comoros, becoming the 128th member of the Bank. | | 1976 | November 30 | First meeting of the Burma Aid Group, convened by the World Bank, meets in Tokyo. Seven governments and four international organizations are represented. | | 1976 | December 3 | First meeting of the Nepal Aid Group, convened by the World Bank, meets in Tokyo. Seven governments and four international organizations are represented. |
1977 | | 1977 | International events | In Czechoslovakia, Charter 77 is published, calling for the government's adherence to international human rights accords. In Ethiopia, military regime seizes power; fighting continues in Eritrea and erupts with Somalia. In South Africa, Steven Biko – head of the Black Consciousness movement - is murdered. UN orders arms embargo against South Africa. In India, Indira Gandhi ends state of emergency, holds elections, and is defeated by Mararji Desai and the Janata Party. In Pakistan, a military coup led by General Muhammad Zia al-Haq overthrows Prime Minister Zulfikar Ali Bhutto. President Anwar Sadat of Egypt unexpectedly flies to Israel where he addresses the Israeli Knesset and calls for peace. First cases of AIDS diagnosed in New York City. US Voyager space probe launched to investigate the solar system.
| | 1977 | ……. | World Bank establishes Resident Missions in Bolivia and Somalia. | | 1977 | January 14 | President McNamara calls for the creation of a new private commission to help break the impasse in the economic relationships between the rich and poor nations, and suggests Willy Brandt as the chairman. | | 1977 | January 18 | World Bank economic survey mission to Vietnam (first Bank mission to Socialist Republic of Vietnam). | | 1977 | February 15 | Moeen Qureshi becomes Executive Vice President of the IFC. | | 1977 | March 24 | IBRD Articles of Agreement signed by Guinea-Bissau, becoming the 129th member of the Bank. | | 1977 | March 25 | IFC and IDA Articles of Agreement signed by Guinea-Bissau, becoming the 106th member of IFC and the 117th member of IDA. | | 1977 | March 26 | First meeting of the Consultative Group for Tanzania, convened by the World Bank. | | 1977 | April 25 | Cofinancing agreement between Canada and IDA announced. | | 1977 | May | Board of Governors approves the increase in the Bank's authorized capital from $27 billion to $34 billion. | | 1977 | May 11 | First Consultative Group for Egypt, convened by the World Bank, meets in Paris, with thirteen governments and twelve international aid organizations represented. | | 1977 | May 22 | First Consultative Group for Bolivia, convened by the World Bank, meets in Paris, with eleven governments and six international aid organizations represented. | | 1977 | July 7 | World Bank announces approval of a loan to Lebanon to help in post civil war reconstruction efforts. | | 1977 | August | Establishment of a Joint Committee of the World Bank and IMF on Staff Compensation Issues to examine principles of staff compensation. | | 1977 | September 10 | Fiji becomes the 67th member of ICSID. | | 1977 | September 10 | First funding for The Bahamas: Loan 1320 Water Supply and Sewerage Project. | | 1977 | September 26 | President McNamara opens the Annual Meetings in Washington, D.C., and calls for policy shifts that will accelerate economic growth and channel the benefits to meet the needs of the absolute poor. | | 1977 | September 30 | IBRD and IDA Articles of Agreement signed by Sao Tome and Principe, becoming the 130th member of the Bank and the 118th member of IDA. | | 1977 | September 30 | IFC Articles of Agreement signed by United Arab Emirates, becoming the 107th member of IFC. | | 1977 | November 17 | Consultative Group for International Agricultural Research (CGIAR) meets in Paris. | | 1977 | November 29 | The fifth replenishment of IDA resources goes into effect with a commitment authority of $7.6 billion over the three-year period, fiscal 1978-1980. | | 1977 | December 9 | IDA Articles of Agreement signed by Comoros, becoming the 119th member of IDA. | | 1977 | December 14 | World Bank convenes an exploratory planning group aimed at forming a Caribbean Group for Cooperation in Economic Development in Washington, attended by thirty governments and fifteen international agencies. The group's mission is to coordinate and strengthen external assistance to Caribbean countries. |
1978 | | 1978 | International events | Deng Xiaoping rises to power in China and begins the "Four Modernizations" programme, emphasizing individual management in place of former communal approach. U.S. Senate approves the Panama Canal treaty, promising to turn the Canal over to Panama by the year 2000. John Paul II ascends to the papal throne. Israeli forces invade Lebanon in effort to halt PLO attacks on Israel, and then withdraw. Afghan President Muhammad Daoud is killed in a military coup, and the Democratic Republic of Afghanistan is declared, headed by Nur Mohammad Taraki. Camp David accords between U.S., Israel, and Egypt lay the groundwork for Middle East "peace process". The Iranian revolution leads to steep hikes in oil prices that continue into 1979. Vietnam invades Cambodia in an effort to crush the Khmer Rouge. World's first "test-tube" baby is born in Britain.
| | 1978 | …....…. | World Bank establishes Resident Mission in Senegal. | | 1978 | January 5 | First funding for Laos: Credit 0760 – Agricultural Rehabilitation and Development Project (01). | | 1978 | January 13 | IBRD and IDA Articles of Agreement signed by Maldives, becoming the 131st member of the Bank and the 120th member of IDA. | | 1978 | January 13 | East African Community member countries appoint Dr. Victor Umbricht to be the mediator to help them assist with the dispersal of the assets and liabilities of their now-defunct corporation. World Bank provides financing for the mediation effort. | | 1978 | February 2 | Mali becomes the 68th member of ICSID. | | 1978 | February 6 | Rural Enterprise and Nonfarm Employment and Agricultural Land Settlement published, further studies on how to alleviate abject poverty and distribute the benefits of growth to the poorest. | | 1978 | February 23 | Annual Review of Project Performance Audit Results is published, indicating that 90 percent of the Bank's investments had economic returns similar to, or substantially better than, estimates made at the time of their appraisal. | | 1978 | March 13 | Bank releases Forestry Sector paper, warning that forest areas in developing countries could disappear altogether within 60 years unless changes are made in the forestry sector. Bank says that it will radically alter its lending patterns toward afforestation. | | 1978 | April 19 | Seychelles becomes the 69th member of ICSID. | | 1978 | May 2 | EEC Special Action Fund approved in Brussels. This establishes a fund to provide quick-disbursing assistance to the poorest countries. The fund is administered by IDA, and financing is provided by the nine member governments of the European Communities (EEC). | | 1978 | May 9 | IFC Articles of Agreement signed by Mali, becoming the 108th member of IFC. | | 1978 | May 25 | Samoa becomes the 70th member of ICSID. | | 1978 | May 31 | World Bank and International Fund for Agricultural Development (IFAD) sign an agreement to cooperate in the identification, preparation, appraisal and administration of agricultural development projects. | | 1978 | June 1 | Bank approves a loan to assist in reconstruction following the 1977 earthquake. | | 1978 | June 19 | First meeting of the Caribbean Group for Cooperation in Economic Development, convened by the World Bank, meets in Washington. | | 1978 | June 27 | IBRD Articles of Agreement signed by Suriname, becoming the 132nd member of the Bank. | | 1978 | June 27 | First meeting of the Consultative Group for Zambia, convened by the World Bank, meets in Paris, with twelve governments and eight international aid organizations represented. | | 1978 | July 1 | J. Burke Knapp, Senior Vice President, Operations retires after 25 years in the Bank. Ernest Stern is appointed Vice President, Operations, and chairman of the Loan Committee. I. P. M. Cargill is appointed Senior Vice President, Finance. Mr. W. David Hopper is appointed Regional Vice President for South Asia. Purviz Damry (Secretary of the Bank) is appointed Vice President and Secretary. Eugene Rotberg is appointed Vice President and Treasurer. | | 1978 | August 16 | The first World Development Report is published with the theme of prospects for accelerating growth and alleviating poverty and identifying major policy issues affecting those prospects. WDRs emerge as an annual flagship publication of the World Bank. | | 1978 | August 24 | First funding for Vietnam: Credit 0845 – Dau Tieng Irrigation Project. | | 1978 | September 22 | IBRD Articles of Agreement signed by Solomon Islands, becoming the 133rd member of the Bank. | | 1978 | September 25 | President McNamara opens the Annual Meetings in Washington, D.C., and exhorts the developed world to intensify efforts to assist the 600 million people projected to be in absolute poverty by the end of the century. | | 1978 | October 13 | First funding for Comoros: Credit 0852 - Highway Project. | | 1978 | November 7 | Executive Directors review environmental policies and practices of the bank and endorse a Bank policy that seeks to control the environmental impact of its projects. | | 1978 | November 7 | First meeting of the Consultative Group for Uganda, convened by the World Bank. | | 1978 | November 10 | Consultative Group for International Agricultural Research (CGIAR) meets in Washington, and pledges $103 million in research assistance for calendar year 1979. | | 1978 | November 14 | Mr. Mahmud Burney appointed as World Bank Representative to United Nations Organizations in Geneva. | | 1978 | November 19 | Papua New Guinea becomes the 71st member of ICSID. | | 1978 | November 20 | IBRD and IDA Articles of Agreement signed by Cape Verde, becoming the 134th member of the Bank and the 121st member of IDA. | | 1978 | December 7 | Comoros becomes the 72nd member of ICSID. | | 1978 | December 17 | Philippines becomes the 73rd member of ICSID. | | 1978 | December 29 | First funding for Barbados: Loan 1642 Education Project. |
1979 | | 1979 | International events | Phnom Penh falls to Vietnam, and the regime of the Khmer Rouge ends. Mass graves of Khmer Rouge victims are discovered. In Afghanistan, a coup overthrows President Taraki. Soviet troops invade and restore Communist rule under Babrak Karmal. Millions of refugees flee, and ten year armed resistance by Mujaheddin guerillas begins. China and US establish diplomatic relations. Shah flees Iran in face of revolution. Ayatollah Khomeini returns from exile and takes control. Sixty-six American hostages are seized at US Embassy in Tehran, precipitating the "Iran hostage crisis" (ending January 1981). Israel and Egypt sign peace treaty. Saddam Hussein becomes president of Iraq. Tanzanian forces invade Uganda and overthrow government of Idi Amin. Opposition forces in Nicaragua overthrow the Somoza regime and Marxist Sandinistas establish government. Civil war between the Contras, supported by US, and the Sandinistas. Indira Gandhi re-elected prime minister in India. Margaret Thatcher becomes first woman Prime Minister of United Kingdom, and leads the "conservative revolution."
Former Prime Minister Bhutto executed in Pakistan. IRA assassinates Earl Mountbatten of Burma and his grandson.
| | 1979 | January 16 | A program to accelerate petroleum production in developing countries is approved. Activities include assistance in devising national energy plans of oil-importing developing countries, predevelopment work, and expansion of lending for fuel production. Loans for oil and gas exploration are also considered. | | 1979 | February 9 | |
| | |
