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World Bank Group Historical Chronology: 1980-1989

1980

1980International events

Green Party established in West Germany, devoted primarily to ecological concerns.

Iraq invades Iran in a war that continues until 1988.

In Poland, strikes in the Gdansk shipyard lead to the emergence of the independent Solidarity labor movement.

Rhodesia becomes the independent state of Zimbabwe headed by Robert Mugabe.

World Health Organization announces the eradication of smallpox.

Voyager I space probe returns photos of Saturn and six new moons.

 

1980January 4The Board of Governors approves a general capital increase raising the Bank's authorized capital stock to $485 billion, an increase of approximately $44 billion. It becomes operational July 1.
1980January 7IFC Articles of Agreement signed by Niger, becoming the 112th member of IFC.
1980January 15Bank management recommends to Executive Directors that an Administrative Tribunal be established to provide Bank staff some degree of judicial protection.
1980January 24Bank announces that a major review of its compensation policies will be undertaken. Hay Associates will undertake a detailed survey of comparator organizations.
1980January 25First funding for West Africa Region: Credit 0969 - Project Preparation Credit.
1980MarchThe Independent Commission in International Development Issues (Brandt Commission), chaired by Willy Brandt, releasesNorth-South: A Program for Survival calling for, among other recommendations, a large-scale transfer of resources on both concessional and market terms to developing countries.
1980March 4Draft statute of the Administrative Tribunal is approved by the Board of Directors.
1980March 25The first structural adjustment loan - for $200 million to Turkey - is approved.
1980April 1World Bank makes staff appointments. William Clark retires as Vice President, External Relations, succeeded by Mr. Munir P. Benjenk. Roger Chaufournier appointed Vice President, EMENA region. Parviz Damry retires as Vice President and Secretary, and is succeeded by Timothy Tahane.
1980April 11Bank announces that property (between 19th and 20th Streets, and G and F Streets) has been purchased from George Washington University to build a new office building (H building).
1980April 26Bangladesh becomes the 76th member of ICSID.
1980May 2New Zealand becomes the 77th member of ICSID.
1980May 15The People's Republic of China assumes representation as China in the World Bank Group.
1980June 7Saudi Arabia becomes the 78th member of ICSID.
1980June 25IFC Articles of Agreement signed by Barbados, becoming the 113th member of IFC.
1980June 27IBRD Articles of Agreement signed by St. Lucia, becoming the 135th member of the Bank.
1980July 1A currency pooling scheme, designed to equalize exchange rate risks among the IBRD's borrowers, becomes operational.
1980July 1World Bank Administrative Tribunal on staff-related personnel issues begins operations.
1980July 1Bank exercise room opens in the basement of the I building.
1980July 21IFC and IDA Articles of Agreement signed by Solomon Islands, becoming the 114th member of IFC and the 122nd member of IDA.
1980August 1Senior staff appointments: Mr. Massaya Hattori appointed Vice President and Controller. Georg Gabriel is appointed Vice President, Programming and Budgeting, and Vice President, Pension Fund. Heinz Vergin is appointed Director, Programming and Budgeting Department. Joseph Wood is Director, Financial Policy and Analysis Department.
1980August 15Moeen Qureshi appointed Senior Vice President Finance, and Ernest Stern appointed Senior Vice President Operations.
1980September 15A. David Knox appointed Regional Vice President, Western Africa.
1980September 29IBRD, IFC and IDA Articles of Agreement signed by Dominica, becoming the 136th member of the Bank, the 115th member of IFC, and the 123rd member of IDA.
1980September 29IBRD Articles of Agreement signed by Seychelles , becoming the 137th member of the Bank.
1980September 29IBRD, IFC and IDA Articles of Agreement signed by Zimbabwe, becoming the 138th member of the Bank, the 116th member of IFC, and the 124th member of IDA.
1980October 1IFC Articles of Agreement signed by Congo (Brazzaville), becoming the 117th member of IFC.
1980October 1IBRD, IFC and IDA Articles of Agreement signed by Djibouti, becoming the 139th member of the Bank, the 118th member of IFC and the 125th member of IDA.
1980October 1Bernard Chadenet retires from the Bank (having left the Bank in 1954 and returning in 1964). Lester Nurick retires as Vice President and General Counsel, and is succeeded by Heribert Golsong. Hugh Scott becomes Associate General Counsel, and David Goldberg becomes Assistant General Counsel.
1980October 21

First meeting of the Consultative Group for Mauritius, is convened by the World Bank.

 

1981

1981International eventsRonald Reagan becomes US president.

Iranian hostages are released.

Israeli jets destroy Iraqi nuclear power plant near Baghdad.

Egyptian president Anwar Sadat is assassinated by Islamic fundamentalists.

IRA hunger strikers die in Northern Ireland.

Greece joins the EEC.

Indonesian Army carries out massive campaign of repression against separatists in East Timor.

Martial law declared in Poland.

First US space shuttle makes a successful flight.

Chinese scientists successfully clone a golden carp fish.

IBM introduces the first personal computer.

Scientists identify Acquired Immune Deficiency Syndrome (AIDS).

 

1981January 1Hans A. Wuttke becomes Executive Vice President of the IFC.
1981March 9IFC organizational appointments: Mr. Jose E. Camacho appointed Vice President and General Counsel; Mr. Makarand V. Dehejia appointed Vice President, Engineering and Technical Assistance.
1981April 2Announcement that Hay Associates Review of Staff Compensation is completed and distributed to Executive Directors.
1981April 30First funding for Solomon Islands: Credit 1115 - Development Bank of the Solomon Islands (DBSI) Project.
1981May 7Ireland becomes the 79th member of ICSID.
1981June 11IFC Articles of Agreement signed by Seychelles, becoming the 119th member of IFC.
1981June 15Administrative Tribunal renders its decision in the "Kafka" cases which challenged the validity of the Bank's adoption of the tax allowance system with the safety net in lieu of the former tax reimbursement policy. The Tribunal decided that the Bank has the unilateral right to change the conditions of employment, subject to limitations derived from general principles of law. The Tribunal decided that the tax allowance system was a reasonable alternative which did not constitute a breach of contract by the Bank.
1981June 30Announcement that the Bank will establish a Resident Mission in Niamey, Niger, headed by Mr. Maurice J. Gervais.
1981June 30Bank reorganization in the financial complex: Treasurer's Vice Presidency reorganized into Financial Operations Department, Investment Department, and Cashier's Department; Controller's Vice Presidency reorganized into Accounting Department and Loan Department; Staff Retirement Plan Department added to the Programming and Budgeting Department.
1981July 1A. W. Clausen, former president of Bank of America, becomes the sixth President of the Bank.
1981July 22Appointment of Percy Mistry as Senior Financial Adviser to the Senior Vice President, Finance.
1981August 10Accelerated Development in Sub-Saharan Africa: An agenda for Action (known popularly as the "Berg Report"), the first in a series of Bank reports that focus on the development problems of sub-Saharan Africa, is published.
1981September 14John E. Merriam, Director Information and Public Affairs, retires from Bank. He joined the Bank in 1971. He is replaced by Frank Vogl, November 2, 1981.
1981September 28IBRD, IFC and IDA Articles of Agreement signed by Vanuatu, becoming the 140th member of the Bank, the 120th member of IFC, and the 126th member of IDA.
1981September 28IBRD and IDA Articles of Agreement signed by Bhutan, becoming the 141st member of the Bank and the 127th member of IDA.
1981OctoberBenjamin B. King, Director Development Economics Department, retires from Bank. King joined the Bank in 1947.
1981October 8Solomon Islands becomes the 80th member of ICSID.
1981November 1Medical Department established in the Bank, headed by Dr. Andre Lebrun.
1981December 8The position of ombudsman is established, with Mr. Eugene C. Webb appointed to this role.
1981December 15Reorganization of economic analysis, research, and policy activities in the Bank is announced.
1981December 23

IDA Articles of Agreement signed by United Arab Emirates, becoming the 128th member of IDA.

 

1982

1982International eventsArgentina and Britain go to war when Argentina invades the Falkland Islands.

Israel completes withdrawal from Sinai Peninsula begun in 1974.

Israeli forces invade Lebanon. US-led negotiations result in withdrawal of PLO and Syrians from Beirut and the insertion of an international peacekeeping force. Christian Phalangists massacre Palestinian refugees.

Spain joins NATO.

Fall in oil prices causes Mexico to default on international debts; beginning of world debt crisis.

Record deficits are projected for the US budget; interest rates and the dollar climb sharply.

Bolivian military regime returns power to a civilian democratically elected government.

China speeds up its liberalization program.

First use of genetic engineering comes on the market in the form of insulin manufactured from bacteria.

 

1982January 5Executive Directors agree to increase IBRD lending program by $800 million to offset the shortfall in IDA's commitment authority.
1982January 11Announcement that Mahbub ul Haq, Director of Policy Planning and Program Review, is retiring from the Bank to become Minister of Planning for Pakistan.
1982January 11Announcement that the first Attitude Survey will be undertaken in the World Bank.
1982January 22United Arab Emirates becomes the 81st member of ICSID.
1982February 3President Clausen announces organizational changes. Creation of Vice Presidency, Economics and Research (replacing Development Policy Staff); Vice President Operations Policy, Warren Baum as Vice President (replacing Projects Staff); Vice President Energy and Industry, Ernest Stern as Acting Vice President.
1982February 18US Treasury issued report United States Participation in the Multilateral Development Banks in the 1980s, giving some recommendations for improvement to the World Bank, but providing general approval of its activities, and a pledge for continued funding (although funding will be decreased due to pressures on the US budget).
1982February 19Announcement of the establishment of the Information Resource Management Department.
1982February 26In the face of budgetary constraints and adverse economic conditions, President Clausen announces that the Bank will undertake a retrospective study of IDA, to survey its accomplishments and to argue for its continued funding. The Study will be guided by Javed Burki, Percy Mistry and Alexander Shakow, with the assistance of Robert Asher, Robert Ayres, and others.
1982March 19IFC and IDA Articles of Agreement signed by Belize, becoming the 121st member of IFC and the 129th member of IDA.
1982March 19IBRD Articles of Agreement signed by Belize, becoming the 142nd member of the Bank.
1982March 23Appointment of William S. Humphrey as Secretary to the Managing Committee and the Senior Management Council.
1982April 28IFC and IDA Articles of Agreement signed by St. Lucia, becoming the 122nd member of IFC and the 130th member of IDA.
1982May 10Anne Krueger is appointed Vice President of economics and research, replacing Hollis B. Chenery (who retirees August 31, 1982).
1982May 12First funding for Dominica: Credit 1221 - Road Maintenance and Rehabilitation Project.
1982May 21First funding for Djibouti: Credit 1232 - Technical Assistance Project.
1982June 15Vice President Paijmans announces that "staffing adjustments" will take place as a result of reductions in IDA financing.
1982July 2President Clausen summarizes the fiscal year to staff: reduced budget contributions to IDA-6 meant an austere budget for World Bank; planning for IDA-7 commenced; front-end fee on IBRD loans was introduced; changes in borrowing operations approved; continued lending toward the poorest segments of society: agriculture and rural development and energy constitute 50% of the lending program; the Bank will have a stronger catalytic role of mobilizing resources in its cofinancing operations; reorganization of several vice presidencies; issuance of an Attitude Survey; establishment of the Office of Ombudsman.
1982July 7IBRD Articles of Agreement signed by Hungary, becoming the 143rd member of the Bank.
1982July 30Announcement that Heribert Golsong is to retire as Vice President and General Counsel.
1982AugustPeople's Republic of China joins the United Nations.
1982August 10Announcement that the Bank has established a Resident Mission in Kampala, Uganda, headed by Ms. Hillegonda Goris.
1982August 12Mexico's finance minister, Jesus Silva Herzog, informs US Treasury Secretary Regan, Federal Reserve chairman Volcker, and IMF Managing Director Jacques de Larosiere that Mexico will not be able to meet payments on debt due on August 15. The public announcement on August 13 marks the onset of the "debt crisis".
1982August 24Sixth replenishment of IDA resources for fiscal 1981-1983, in the amount of $12 billion, becomes effective. The twenty-six countries that contributed to the funding of the fifth replenishment are joined by seven first-time donors: Argentina, Brazil, Greece, Mexico, Portugal, Romania, and Venezuela. US funding is spread out over four years instead of three, meaning a 35% reduction in IDA funding for fiscal 82.
1982August 31IBRD and IDA Articles of Agreement signed by St. Vincent and the Grenadines, becoming the 144th member of the Bank and the 131st member of IDA.
1982September 6Annual Meetings open in Toronto, Canada, with continuity of IDA funding as the major issue.
1982September 8Legislative delays in approval of the United States contributions to sixth IDA replenishment lead other IDA donors to agree to provide special contributions in an amount equal to one third of their total contributions to IDA's sixth replenishment.
1982September 8Publication of IDA in Retrospect: The First Two Decades of the International Development Association. The study was commissioned to garner support for IDA.
1982October 20Vice President Paijmans announces that "staffing adjustments" due to IDA shortfalls have been completed, with nearly all staff satisfactorily re-assigned.
1982October 22IFC Articles of Agreement signed by Guinea, becoming the 123rd member of IFC.
1982October 25Appointment of Ibrahim F. I. Shihata as Vice President and General Counsel.
1982November 15Announcement that a position of Special Representative IDA, responsible for handling the negotiations for the replenishment of IDA resources, is established. Andre de Lattre is appointed to the position.
1982December 27

Announcement that a Resident Mission will open in early 1983 in Antananarivo, Madagascar, headed by Mr. Paul Blay.

 

1983

1983International eventsThe military regime in Argentina, discredited by the Falklands war, allows elections, and newly elected President Raul Alfonsin tries to restore democracy.

US President Reagan denounces the USSR as an "evil empire", and announces the Strategic Defense Initiative ("star wars") missile defense system.

US forces respond to an earlier left-wing coup by invading the island of Grenada.

PLO finally withdraws from Lebanon, relocating in Tunisia.

Brunei becomes fully independent from United Kingdom.

France tests the neutron bomb.

World's first artificially created chromosome created at Harvard University.

 

1983January 11A new set of cofinancing instruments ("B-loan"), linking part of commercial-bank flows to IBRD operations, is inaugurated.
1983FebruaryA Special Action Program (SAP) for Bank borrowers affected by adverse external conditions, is approved by the Executive Directors for two years. The resulting increase in IBRD disbursements is estimated at $2 billion.
1983FebruaryWorld Debt Tables, compiled annually for internal Bank use since 1972, are published and made available to the general public for the first time.
1983February 2IFC Articles of Agreement signed by Maldives, becoming the 124th member of IFC.
1983February 6Paraguay becomes the 82nd member of ICSID.
1983February 16Announcement that the position of Vice President Cofinancing has been established, with Mr. Teruyuki Ohuchi as the first incumbent.
1983March 17First funding for Cape Verde: Credit 11322 Praia Port Project.
1983April 27First Meeting of the Consultative Group for Madagascar, convened by the World Bank, meets in Paris. It is attended by representatives from eight governments and seven international aid organizations.
1983May 13First funding for Belize: Loan 2273 - Road Maintenance and Rehabilitation Project.
1983June 1William J. Cosgrove is appointed Director of Administrative Services, replacing James E. Twining who retires after 33 years of service.
1983June 16Bank announces establishment of Resident Mission for Benin and Togo, with offices in Cotonu, Benin and Lome, Togo. Mr. Sven Kjellstrom is appointed Resident Representative.
1983July 1IFC establishes Representative Office in New Delhi, India, headed by Mr. Athishdam Tharmaratnam.
1983July 5President Clausen sends end-of-fiscal-year summary to staff: new cofinancing techniques - "B loans"; Special Action Program adopted; improved pubic relations; successful borrowing program; flexible lending rate system; uncertain IDA funding; poverty alleviation is central mission; job grading initiative and improved work environment.
1983July 6First funding for Hungary: Loans 2316, B002, B003 – Grain Storage and Agriculture Mechanization Development Project.
1983July 18Gregory Ingram is appointed Director, Development Research Department.
1983July 22Israel becomes the 83rd member of ICSID.
1983August 5First funding for Vanuatu: Credit 1407 - Agricultural Extension and Training Project.
1983September 1Establishment of Vice Presidency, Financial Policy, Planning and Budgeting, with D. Joseph Wood as Vice President.
1983September 19IFC Articles of Agreement signed by The Gambia, becoming the 125th member of IFC.
1983September 22IBRD Articles of Agreement signed by Antigua and Barbuda, becoming the 145th member of the Bank.
1983September 24IFC Articles of Agreement signed by Mozambique, becoming the 126th member of IFC.
1983September 26IBRD Articles of Agreement signed by Malta, becoming the 146th member of the Bank.
1983November 1C. Eugene Webb retires as Ombudsman, and is succeeded by Mr. James B. Hendry.
1983December 1

Barbados becomes the 84th member of ICSID.

 

1984

1984International eventsFamine again becomes acute in Ethiopia, leading to worldwide efforts at fundraising for famine relief.

South Africa and Mozambique sign the Nkomati Peace Accord.

Sikh separatist movement gains ground in Punjab, India. Prime Minister Indira Gandhi orders assault against Sikh militants occupying holiest Sikh shrine, the golden Temple in Amritsar. Gandhi is assassinated in retaliation by her Sikh bodyguards.

Britain and China agree on procedures to return Hong Kong to China in 1997.

American and French medical research teams independently discover HIV, the virus believed to cause AIDS.

Genetic research and the artificial fertilization of human eggs gives rise to ethical concerns over control of human evolution.

 

1984January 1Warren C. Baum retires as Chairman of Consultative Group for International Agricultural Research (CGIAR), and is succeeded by Mr. S. Shahid Husain.
1984January 14President Clausen makes statement on the recently concluded IDA-7 negotiations, in which the US limited and delayed its contribution, calling the results "inadequate" and "disappointing".
1984February 29First funding for Bhutan: Credit 1416 - Technical Assistance Project.
1984February 16Senior staff changes announced: Vice President External Relations Munir P. Benjenk, Vice President EMENA Roger A Chaufournier, and Mervyn L. Weiner Director General Operations Evaluation to retire from the Bank in June, 1984; Edward V. K. Jaycox appointed Vice President Eastern Africa; Wilfried P. Thalwitz appointed Vice President Western Africa.
1984March 8Announcement that a Bankwide compensation review will be undertaken.
1984April 5El Salvador becomes the 85th member of ICSID.
1984May 30Bolivia suspends payments on its debts. Ecuador follows on June 4.
1984June 21First funding for St. Vincent and the Grenadines: Credit 1479 – Power Project (01).
1984July 4St. Lucia becomes the 86th member of ICSID.
1984July 16First meeting of the Consultative Group for Maldives held in Paris, attended by representatives of nine governments and seven aid organizations.
1984AugustBank member countries agree to a selective capital increase of approximately $8 billion and propose to increase IFC's capital by $650 million to $1,300 million.
1984August 1Portugal becomes the 87th member of ICSID.
1984August 15IBRD Articles of Agreement signed by St. Kitts and Nevis, becoming the 147th member of the Bank.
1984September 23President Clausen establishes a Special Office for African Affairs, to serve as the focal point for the World Bank's coordination, consultation, and action on development issues. Xavier de la Renoudiere is appointed the Special Adviser. Also, the report Toward Sustained Development in Sub-Saharan Africa: A Joint Program of Action is released, announcing a new World Bank program for action in Sub-Saharan Africa.
1984September 24IBRD and IDA Articles of Agreement signed by Mozambique, becoming the 148th member of the Bank and the 132nd member of IDA.
1984September 24President Clausen opens the 39th Annual Meetings in Washington, D.C. saying that although the worst of the debt crisis seems to be over, the future prospects for international aid to the developing countries appear bleak.
1984October 1Sir William Ryrie becomes Executive Vice President of IFC.
1984DecemberBoard of Directors agrees to allow the IFC to raise funds directly from international capital markets. First issue succeeds through private placement.
1984DecemberNicaragua becomes the first country to go into nonaccrual status with the IBRD.
1984December 13

First meeting of the Consultative Group for Senegal meets in Paris, attended by representatives of nine governments and twelve aid organizations.

 

1985

1985International eventsReformer Mikhail Gorbachev comes to power in USSR; inaugurates perestroika (restructuring of economic and political systems) and glasnost (openness).

South African troops withdraw from Angola.

French secret agents sink Greenpeace flagship Rainbow Warrior in Auckland harbor, New Zealand, in response to Greenpeace protests against French nuclear testing in the Pacific.

US and UK withdraw from UNESCO.

British Antarctic survey team discover a hole in the earth's ozone layer.

 

1985JanuaryThree vice-presidencies are created at the IFC: Investment Operations, Development Syndications, and Public Affairs.
1985January 25World Bank donates a grant of $3 million to the World Food Program for emergency food supplies to drought-stricken Sub-Saharan Africa. It is the second donation within the space of a single year ($2 million was granted in April 1984.)
1985January 31World Bank convenes meeting in Paris for the Special Facility for Sub-Saharan Africa, and raises $1.1 billion from donor countries and organizations. The Special Facility is to provide fast-disbursing financing in support of reform programs.
1985February 26President Clausen addresses the Institute of Directors in London, and calls for a shift in the sources of development aid from the public sector to the private sector.
1985March 31Seventh replenishment of IDA resources goes into effect with a commitment authority of $9 billion for the three-year period fiscal 1985-1987.
1985April 29IFC and IDA Articles of Agreement signed by Hungary, becoming the 127th member of IFC and the 133rd member of IDA.
1985May 9First funding for Seychelles: Loan 2492 - Transport (01).
1985June 20First funding for Grenada: Credit 1558 - Agricultural Rehabilitation and Crop Diversification Project.
1985June 30Lending commitments in fiscal 1985 fall by nearly $1 billion from the previous year.
1985July 1IDA becomes administrator of, and is authorized to accept contributions to, the Special Facility for Sub-Saharan Africa, which will run for three years. The program is a one-time multilateral fund designed to provide untied and quick-disbursing assistance for African governments undertaking reform programs.
1985July 1World Bank opens Resident Mission in Beijing, China, headed by Mr. Edwin Lim.
1985July 1World Bank opens Resident Mission in Lilongwe, Malawi, headed by Mr. Peter A. Hall.
1985July 23First funding for Mozambique: Credit 1610 - Rehabilitation Program Project.
1985August 1World Bank opens Resident Mission in Harare, Zimbabwe, headed by Mr. Mahmud Burney.
1985August 2Announcement that the IRMD applications development and maintenance functions will be decentralized to individual Bank Group units.
1985August 8Announcement and explanation of new grade and salary structures disseminated throughout Bank.
1985August 14First funding for Sao Tome and Principe: Credit 1590 – Economic Rehabilitation and Modernization Project.
1985September 13IBRD Articles of Agreement signed by Tonga, becoming the 149th member of the Bank.
1985September 24World Bank opens Resident Mission in Nouakchott, Mauritania, headed by Mr. Etienne Baranshamaje.
1985October 1New grade and salary structure implemented in World Bank.
1985October 8At the World Bank and IMF annual general meetings in Seoul, President Clausen reaffirms his decision to not accept a second term as Bank President. Also, US Secretary of the Treasury James A. Baker suggests a new strategy for the major indebted countries, calling for increased lending by the World Bank and commercial banks.
1985October 23IFC and IDA Articles of Agreement signed by Tonga, becoming the 128th member of IFC and the 134th member of IDA.
1985November 25

First meeting of the Mauritania Consultative Group, convened by the World Bank, and attended by representatives of eight governments and nine international aid organizations.

 

1986

1986International eventsUruguay Round of GATT sets up the World Trade Organization.

Nuclear disaster at Chernobyl (26 April).

South Africa declares a state of emergency.

Former emperor of the Central African Republic, Jean-Bedel Bokassa, is tried for mass murder and cannibalism.

Philippines elect Corazin Aquino as president in a disputed election following the flight of former president Ferdinand Marcos.

Haitian dictator Jean-Claude Duvalier is forced into exile, and Haiti moves toward a democracy.

Portugal and Spain join the EEC.

US President Reagan's administration is shaken by the Iran-Contra scandal, in which funds from US arms sales to Iran were funneled to support Contras fighting Sandinistas in Nicaragua.

25,000 cases of AIDS diagnosed in US.

 

1986January 15Wolfgang E. Siebeck appointed as Representative to UN Organizations in Geneva, replacing Peter Chatenay.
1986February 14Ecuador becomes the 88th member of ICSID.
1986March 27IMF established structural adjustment facility (SAF) to provide balance of payments assistance on concessional terms to low-income developing countries.
1986April 3Announcement that the Executive Directors have selected Barber Conable as the next World Bank President.
1986April 23Third Attitude Survey distributed throughout Bank Group.
1986May 8Information Resource Management Department (IRMD) and Administrative Services Department (ADM) reorganized to form Information Technology and Facilities Department (ITF), and General Services Department (GSD).
1986June 10Launching of IFC's African Project Development Facility (APDF), a UNDP funded and IFC executed project activity aimed increasing assistance to African private entrepreneurs.
1986June 27Poland rejoins the Bank (after a thirty-six year hiatus), bringing total IBRD membership to 150.
1986July 1Barber Conable becomes the seventh President of the Bank.
1986August 8IFC establishes Resident Mission in Istanbul, Turkey, headed by Mr. Apinya Suebsaeng.
1986September 3President Conable announces top-level management changes, beginning with the discontinuance of the Managing Committee, and the restructuring of the Managing Committee's subcommittees into Bank Policy committees.
1986September 19The Preparatory Committee for the Establishment of the Multilateral Investment Guarantee Agency (MIGA), meeting in Washington, completes the detailed design of the Agency's initial policies and procedures.
1986September 29IBRD Articles of Agreement signed by Kiribati, becoming the 151st member of the Bank.
1986September 29In response to several inquiries, the World Bank issues a statement on its forestry operations. The statement asserts that the Bank is deeply concerned about the destruction of tropical forests, and is intensifying efforts to effectively deal with the problem.
1986October 2IFC and IDA Articles of Agreement signed by Kiribati, becoming the 129th member of IFC and the 135th member of IDA.
1986October 8Barber Conable announces a review of the organization of the Bank.
1986October 10Powerful earthquakes hits San Salvador, the capital city of El Salvador, leaving 1,500 people dead, 10,000 injured, and 300,000 homeless. World Bank provides funding in September 1987 for reconstruction efforts.
1986October 13World Bank convenes the Fisheries Development Donor Consultation, with over 25 multilateral and bilateral donors meeting to discuss aid coordination in the fishery sector, including topics such as the improvement in the quality of fisheries aid projects, improved exchange of information, improvements in the consultative process, and prospects for international cooperation in fisheries research.
1986October 16World Bank establishes Resident Mission in Manila, The Philippines, headed by Mr. Rolando Arrivillaga.
1986October 16IFC reorganization: Mr. Hilary P. Reddy appointed Vice President, Finance and Resources Management; Daniel F. Adams appointed Vice President, Portfolio Operations.
1986October 16World Bank announces a new policy on the management of cultural properties, saying that it will not, under normal circumstances, finance projects that will damage cultural property, and will actively assist in the preservation of such properties.
1986October 27Establishment of the Secretariat of the Special Program for African Agricultural Research (SPAAR). SPAAR is formed to coordinate donor activities, collect, assess and disseminate information on promising technologies, and develop national research strategies and regional research programs.
1986October 31Vice President Warren C. Baum retires after 27 years of service to the Bank and Consultative Group for International Agricultural Research (CGIAR).
1986November 30Appointment of Mr. Vincent J. Riley as Ombudsman, replacing James B. Hendry.
1986December 1President Conable reports to staff on progress made on the reorganization of the Bank, and announces the restructuring of top management into six Senior Vice Presidencies, and the creation of three task forces to examine the operational and administrative processes of the Bank.
1986December 8IFC Articles of Agreement signed by The Bahamas, becoming the 130th member of IFC.
1986December 15Agreement on the eighth Replenishment of IDA Resources is announced. The Replenishment covers the years 1987 – 1989, and pledges for $12.4 billion in development assistance were received from donor countries.
1986December 17A special "Poverty Task Force" comprising senior staff is established to review the Bank's poverty work and to propose new programs.
1986December 18

Announcement of the membership of various task forces created to plan and implement the reorganization of the Bank. The reorganization is intended to make the Bank more flexible and effective in responding to the complex needs of its member nations.

 

1987

1987International eventsIn South Korea, students riot against government repression and corruption.

Chinese suppress nationalist uprising in Tibet.

USA and USSR sign treaty eliminating intermediate range missiles.

Indian Government imposes direct rule in the Punjab to fight Sikh terrorism.

Palestinians in the occupied territories begin the "intifada", an uprising against Israeli rule.

 

1987January 1Financial Operations Department reorganized; Jessica P. Einhorn appointed Senior Manager.
1987January 15Vasant H. Karmarkar appointed Principal Financial Advisor, IFC.
1987February 3Announcement that the Bank will establish a Resident Mission in Mexico City, Mexico, headed by Mr. Marko Voljc.
1987February 5IFC Articles of Agreement signed by Benin, becoming the 131st member of IFC.
1987February 6President Conable travels to Kenya, Zambia and Tanzania for a two-week tour.
1987February 10World Bank co-sponsors (with WHO and the UN Fund for Population Activities) a conference on Safe Motherhood, in Nairobi, Kenya, to draw attention to women's health needs. President Conable establishes the Safe Motherhood Initiative, and pledges that the World Bank will take specific steps to assist in issues affecting women.
1987March 5Government of Japan offers funding to provide a graduate scholarship program for higher-level study in development–related activities. The scholarship will be administered by the Economic Development Institute.
1987March 6Hungary becomes the 89th member of ICSID.
1987March 10World Bank President Conable promises assistance to Ecuador in the wake of devastating earthquakes in the country. On May 6, the Bank approves an $80 million loan for emergency reconstruction of a primary oil pipeline.
1987March 16World Bank sends a delegation to the first Donors Conference of the Intergovernmental Authority on Drought and Development (IGADD) held in Djibouti, Ethiopia. IGADD's goal is to fight the effects of drought and other natural disasters, to make the most of existing resources, and to promote stability, trade, and economic growth in the region.
1987March 18First meeting of the Consultative Group for Guinea held in Paris, attended by representatives from eight governments and nine aid organizations.
1987April 6Final recommendations of the Reorganization Steering Committee are issued in the report Reorganizing the Bank, An Opportunity for Renewal.
1987April 15IFC Articles of Agreement signed by Antigua and Barbuda, becoming the 132nd member of IFC.
1987April 15World Bank establishes Resident Mission in Brasilia, Brazil, headed by Mr. George Papadopoulos. It is the fifth mission in Latin America; other missions are in Colombia, Bolivia, Peru, and Mexico.
1987April 29President Conable meets with Mrs. Gro Harlem Brundtland, Prime Minster of Norway to discuss the report of the World Commission on Environment and Development (created by the UN General Assembly in 1983). Conable applauds the interconnection between sustainable development and environmental concern.
1987April 30Reginald A. Clarke, Director Compensation Department, retires from Bank after 23 years of service.
1987May 4The Bank is reorganized into four senior vice presidential complexes: Moeen A. Qureshi is named Senior Vice President for operations; Ernest Stern, Senior Vice President for finance; W. David Hopper, Senior Vice President for policy, planning, and research; Will A. Wapenhans, Senior Vice President for administration. Four regional Vice presidents are appointed: S. Shahid Husain, Edward V. K. Jaycox, Attila Karaosmanoglu, Wilfried P. Thalwitz. Other Vice Presidents include: Martijn J. W. M. Paijmans - Pension Fund. D. Joseph Wood – Financial Policy and Risk Management; Visvanathan Rajagopolan – Sector Policy and Research; Jose Botafogo Goncalves – External Affairs. Within regions, country departments are created that combine the functions previously divided between program and projects departments. The Policy Committee is created to advise the President on institutional matters.
1987May 5President Conable addresses the World Resources Institute in Washington, announcing new measures that the Bank will take to protect the environment. Included are the creation of an Environment Department in the Bank, environmental assessments of thirty of the most vulnerable developing nations, a continent-wide initiative against desertification and destruction of forests in Africa, participation in a program to conserve tropical forests, and to explore the possibility of a cooperative effort to protect the Mediterranean region.
1987May 8Bank releases Financing Health Services in Developing countries: An agenda for reform, a health care policy paper which states that government expenditures need to be shifted from health services that cater to the rich to those which cater to the poor.
1987May 21Announcement that the World Bank will establish a Resident Mission in Bangkok, Thailand, headed by Mr. Carlos M. Tan.
1987May 22Announcement of department directors appointed as part of 1987 reorganization process.
1987June 1Staff announcement on Bank reorganization - further appointments.
1987June 8Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987June 9Staff announcement on Bank reorganization - further appointments.
1987June 16Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987June 18Staff announcement on Bank reorganization – further appointments.
1987June 22First round of selection for positions in Policy Planning and Research (PPR) and Operations complexes begins. Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987June 22Hearing Officers, to assist the Appeals Committee with appeals from staff affected by the reorganization, are announced.
1987June 24Staff announcement on Bank reorganization - further appointments.
1987June 29Eugene H. Rotberg, Vice President and Treasurer, retires from Bank after 19 years of service.
1987June 30Staff announcement on Bank reorganization - further appointments.
1987July 6Announcement that David Knox, Vice President, will retire from the Bank after 24 years of service.
1987July 9First meeting of the Consultative Group for Mozambique is held in Paris, attended by representatives from fourteen governments and ten international aid organizations.
1987July 10Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987July 14Richard Frank succeeds Mr. Hilary P. Reddy as IFC Vice President, Finance and Resources Management.
1987July 15First funding for Tonga: Credit 1813 - Tonga Development Bank Project.
1987July 24Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987AugustPeru, Sierra Leone, and Zambia go into nonaccrual status.
1987August 1Beginning of Round 2 of the selection process for selecting candidates for positions in the Bank reorganization.
1987August 4Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987August 12Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987August 19Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987SeptemberThe Social Dimensions of Adjustment (SDA) Initiative is launched as a joint undertaking of the World Bank, the African Development Bank, and the United Nations Development Programme.
1987September 16Further Questions and Answers on Implementing the Bank Reorganization issued to all staff.
1987September 17Executive Directors approve an additional $35 million for separation packages for staff leaving due to the reorganization.
1987September 22Stanley Fischer is appointed Chief Economist and Vice President for development economics.
1987September 27President Conable opens the Annual Meetings in Washington, D.C., for a "rededicated [and] renewed World Bank".
1987September 30Final day of the Reorganization's Round 2 selection process. Of 5910 staff who participated, 5410 were selected during Rounds 1 and 2; 500 selected separation packages.
1987October 23IDA Articles of Agreement signed by St. Kitts and Nevis, becoming the 136th member of IDA.
1987October 31President Conable arrives in Karachi, Pakistan for four days. It is his first trip to this country since becoming World Bank President.
1987November 4World Bank establishes Resident Mission in Ankara, Turkey, headed by Mr. James Chaffey.
1987November 18World Bank publishes The Uruguay Round - A Handbook on the Multilateral Trade Negotiations. It serves as a handbook, giving background information and guidance for developing countries participating in the Uruguay Round of the GATT negotiations.
1987November 19World Bank sponsors seminar of experts on Integrated Pest Management (IPM), advocating less costly and more environmentally sound methods of pest control.
1987November 19World Bank approves a loan to Brazil for resettlement of 8100 families displaced by the flooding of the Itaparica reservoir on the Sao Francisco River in Bahia and Pernambuco. The World Bank did not fund the reservoir project, but is financing the resettlement efforts.
1987November 20Announcement that Vice President Martin Paijmans will retire from the Bank at the end of December, 1987, after 25 years of service.
1987November 30Vice President Hans Hittmair retires from Bank, after 28 years of service.
1987December 4Donors agree to establish the Special Program of Assistance to Africa (SPA) to provide quick-disbursing aid to reforming low-income African countries. Its main objective is to mobilize resources and coordinate support for economic reforms in Africa. The SPA agenda soon expands to include the streamlining of donor procedures and the monitoring of adjustment programs for efficacy in poverty reduction and providing highly-concessional, quick-disbursing assistance in new money in the form of grants or concessional development loans.
1987December 8Announcement that Donald Roth is appointed Vice President and Treasurer.
1987December 17Appointment of Willi Wapenhans as Senior Vice President External Affairs and Administration.
1987December 29IFC Articles of Agreement signed by Poland, becoming the 133rd member of IFC.
1987December 31Dr. Andre LeBrun, Director Medical Department retires from the Bank.
1987December 31

Announcement that IFC will establish a Resident Mission in Lagos, Nigeria, headed by Mr. Bahadurali Jetha.

 

1988

1988International eventsCease-fire ends Iran-Iraq war.

US indicts General Manuel Noriega, ruler of Panama, on drug-trafficking charges.

PRI Candidate Carlos Salina elected president of Mexico with bare majority.

In Burma, hundreds of thousands demonstrate for democratic reform in the "Burmese Spring", resulting in an army crackdown. The military rulers change the country's name to Myanmar.

Angolan civil war ends temporarily with a Geneva accord between UNITA and MPLA.

Widespread strikes begin in Poland.

Soviet troops begin the withdrawal from Afghanistan after nine years of occupation.

PLO Chairman Yasser Arafat addresses the UN, rejecting violence, recognizing the existence of Israel, and calling for a political solution to the Palestinian problem.

 

1988January 27Bank issues Education in Sub-Saharan Africa: Adjustment, Revitalization and Evaluation, an education policy paper. Twenty-five donor governments and agencies meet in Paris to assist in developing strategies for educational reform in Africa.
1988February 1IFC reorganization: Each regional investment departments appoints a Regional Economist; Development Department is renamed the Economics Department, with Guy P. Pfeffermann as Director.
1988February 16President Conable addresses the Bretton Woods Committee, arguing that a capital increase is needed for the Bank's continued effectiveness.
1988February 19Bank's Board of Executive Directors approve a $74.8 billion General Capital Increase.
1988March 2Research Committee established, responsible for translating research priorities into specific objectives, and directing and managing Bank research.
1988March 4Eighth replenishment of IDA funds goes into effect with commitment authority of $12.4 billion for fiscal 1988-90.
1988AprilKenneth Piddington appointed as Director, Environment Department.
1988April 1Wilfried E. Kaffenberger is appointed IFC Vice President, Portfolio Operations, replacing Daniel F. Adams.
1988April 1IFC establishes office in Tokyo, Japan, headed by Mr. Sugio Hatanaka.
1988April 12The international convention establishing the Multilateral Investment Guarantee Agency (MIGA) as an affiliate of the World Bank Group takes effect. Original twenty-nine signatories include: Ecuador, Barbados, Saudi Arabia, Indonesia, Bahrain, Pakistan, Jordan, Lesotho, Senegal, Cyprus, Samoa, Malawi, Bangladesh, Japan, Kuwait, Denmark, Egypt, Germany, Netherlands, Canada, Korea, Jamaica, Sweden, Grenada, Switzerland, Nigeria, Chile, United States, and the United Kingdom.
1988April 15MIGA Articles of Agreement signed by Togo, becoming the 30th member of MIGA.
1988April 21MIGA Articles of Agreement signed by Hungary, becoming the 31st member of MIGA.
1988April 28A third general capital increase, in the amount of $74.86 billion, takes effect, bringing the Bank's total authorized capital to $171.4 billion.
1988April 29MIGA Articles of Agreement signed by Ghana, becoming the 32nd member of MIGA.
1988April 29MIGA Articles of Agreement signed by Italy, becoming the 33rd member of MIGA.
1988April 29MIGA Articles of Agreement signed by Spain, becoming the 34th member of MIGA.
1988April 30MIGA Articles of Agreement signed by China, becoming the 35th member of MIGA.
1988May 12Appointment of Mr. Alan Douglas Legg as Auditor General – Internal Auditing Department.
1988May 27MIGA Articles of Agreement signed by Sri Lanka, becoming the 36th member of MIGA.
1988June 3MIGA Articles of Agreement signed by Turkey, becoming the 37th member of MIGA.
1988June 6MIGA Articles of Agreement signed by Portugal, becoming the 38th member of MIGA.
1988June 6MIGA Articles of Agreement signed by Zambia, becoming the 39th member of MIGA.
1988June 7MIGA Articles of Agreement signed by Cote d'Ivoire, becoming the 40th member of MIGA.
1988June 7MIGA Articles of Agreement signed by Tunisia, becoming the 41st member of MIGA.
1988June 8MIGA Articles of Agreement signed by Madagascar, becoming the 42nd member of MIGA.
1988June 20IDA Articles of Agreement signed by Poland, becoming the 137th member of IDA.
1988June 27World Bank announces approval of $175 million emergency loan to assist reconstruction efforts in Rio de Janeiro, Brazil, following floods and landslides in February 1988.
1988June 29President Conable announces the creation of the Support Staff Action Group, created to address personnel issues.
1988June 29President Conable issues statement welcoming the recent agreement between Brazil and a committee of creditor banks to resolve debt-related issues. Conable had sent a letter to the international financial community on June 16, urging support for Brazil's efforts.
1988June 29Senior Vice President W. David Hopper addresses The Royal Agricultural Society in Warwick, England on the future of agro-industry. He describes the conflict between the goal of high-yield agriculture and environmentally sound policies, and says this will require "decisions fraught with outcomes that reach beyond farm boundaries."
1988July 1Bank establishes a field Office in the People's Republic of the Congo, headed by Mr. Mamadou Dia.
1988July 8Mr. Yoshio Terasawa is appointed the first Executive Vice President of MIGA.
1988July 10President Conable addresses the Oslo Conference on Sustainable Development, and states the World Bank's policy on hazardous waste disposal. Ocean dumping should be prohibited, and transportation severely restricted. The Bank will not finance any shipments of hazardous waste or any projects that involve the disposal of hazardous waste from another country.
1988July 21IFC establishes the Africa Enterprise Fund, to expand assistance to small and medium sized enterprises in Sub-Saharan Africa. It is headed by Mr. Guy Antoine.
1988July 25MIGA Articles of Agreement signed by St. Lucia, becoming the 43rd member of MIGA.
1988July 25Gregory Ingram appointed Principal Adviser, Policy and Research.
1988July 27MIGA Articles of Agreement signed by Vanuatu, becoming the 44th member of MIGA.
1988August 24Announcement of the appointment of Mr. Leigh P. Hollywood as MIGA Vice President Guarantees.
1988AutumnDisputes erupt between the IMF and the Bank over lending to Argentina.
1988September 1IFC opens Regional Mission for North Africa in Casablanca, Morocco, headed by Mr. Sami Haddad.
1988September 8President Conable pledges assistance to Bangladesh for reconstruction following recent floods in that country.
1988September 14Kenneth Piddington, Director Environment Department, addresses the International Institute for Environment and Development - North America. He says that "environment is moving to the top of the international agenda", and sees a new multilateral environmental effort possible if governments are willing and consensus can be built.
1988September 30President Conable opens Annual Meetings in Berlin, stating that the amount and level of poverty in the world is a "moral outrage".
1988October 4Announcement of the establishment of a Bank Resident mission in Bangui, Central African Republic, headed by Mr. Jean-Paul Dailly.
1988October 7MIGA Articles of Agreement signed by Cameroon, becoming the 45th member of MIGA.
1988October 31Vice President Attila Karaosmanoglu addresses the Beijing Women Journalists Association, saying that the World Bank has made an important shift in operational awareness of women's role in development. President Conable has established women-in-development as a key priority for Bank's operations world-wide.
1988November 2MIGA Articles of Agreement signed by Burkina Faso, becoming the 46th member of MIGA.
1988November 8Report of the Support Staff Action Group is issued.
1988November 12President Conable travels to Jordan and Saudi Arabia for a four day visit.
1988November 28MIGA Articles of Agreement signed by Kenya, becoming the 47th member of MIGA.
1988December 6President Conable addresses the GATT trade negotiations in Montreal, warning that the current trend of protectionism threatens the growth of both rich and poor nations, and violates the spirit of the intentions of the Bretton Woods founders.
1988December 9New health policy for the Bank Group staff is announced.
1988December 12Appointment of Mr. Ghassan el-Rifai as MIGA Vice President, Policy and Advisory Services.
1988December 27World Bank approves $30 million emergency loan to Jamaica to fund priority imports needed for reconstruction from Hurricane Gilbert.
1988December 28

MIGA Articles of Agreement signed by Finland, becoming the 48th member of MIGA.

 

1989

1989International eventsIn Paraguay, dictator General Alfredo Stroessner is overthrown after 35 years in power; General Andres Rodriguez is elected president.

Soviet army completes its withdrawal from Afghanistan.

China imposes martial law in Tibet.

In China, pro-democracy demonstrations culminate in Tiananmen Squre massacre.

In Chile, General Pinochet allows free elections and military dictatorship is peacefully replaced by a return to democratic rule and continuing free market economic policies.

In South Africa, F. W. de Klerk becomes State President and moves towards universal suffrage and the end of apartheid.

Communist rule ends in Poland and Hungary.

East German government opens border. Berlin Wall comes down. Communist rule collapses in East Germany and Czechoslovakia. Romanian dictator Ceausescu and his wife are executed.

US forces invade Panama to arrest General Manuel Noriega, indicted by US court on drug-trafficking charges.

Worldwide efforts to limit the use of CFC's thought to be damaging the earth's ozone layer.

 

1989January 17Bank establishes Resident Mission in N'Djamena, Chad, headed by Mr. Horst Scheffold.
1989January 18MIGA Articles of Agreement signed by Guyana, becoming the 49th member of MIGA.
1989January 24MIGA Articles of Agreement signed by Oman, becoming the 50th member of MIGA.
1989January 30Safe Motherhood conference opens in Niamey, Niger, sponsored by the World Bank, WHO, UNICEF, and the UNFPA. The conference is designed to assist country teams to develop effective action plans for national and local implementation. Vice President Edward V. K. Jaycox, proposes an action agenda to the conference participants.
1989February 7MIGA Articles of Agreement signed by Zaire (Democratic Republic of Congo), becoming the 51st member of MIGA.
1989February 9Vice President Attila Karaosmanoglu speaks at Harvard University on the Bank's role in environmental protection. He says that the Bank has supported population control programs, programs to lessen soil erosion and other forms of land degradation, forest depletion, and water and air pollution. In addition, the Bank is assessing the environmental costs and benefits of large dams.
1989March 10US Secretary of the Treasury Nicolas F. Brady calls for a new debt strategy initiative focusing on a reduction in debt stocks rather than providing new money.
1989March 16Honduras becomes the 90th member of ICSID.
1989March 17President Conable announces that the Executive Directors have approved a project for the Rehabilitation of the Main Complex buildings. The plan calls for the demolition of the A, B, C, and F buildings, and their replacement with new structures; in addition, the D and E buildings will be retrofitted. The project is budgeted at $186 million.
1989March 21First freestanding NGO-implemented project is financed by the Bank for grassroots development initiatives in Togo.
1989March 30World Bank and IMF Boards reach agreement ("Concordat") on cooperation and collaboration.
1989March 31Establishment of the Bankwide Advisory Committee on the Rehabilitation of the Main Complex Buildings, chaired by Mr. Everardo Wessels.
1989April 2Turkey becomes the 91st member of ICSID.
1989April 3Dr. Michael H. K. Irwin appointed Director, Health Services Department.
1989April 27President Conable addresses the Reuters Information Services in London. He calls the worldwide severity and pervasiveness of poverty a "moral outrage", and identifies the key elements of "sustainable development": solution to the debt problem; policy reform efforts in developing countries; secure long-term investment; unrestricted international trade; sound environmental policies.
1989May 1The new Revised Compensation System, having taken four years of planning, is approved by the Executive Directors.
1989May 14President Conable travels to Ankara Turkey, for a four-day visit to view industrial, agricultural, and educational development projects.
1989June 1Bank adopts operational guidelines for debt and debt-servicing payments. Primary support will be provided by loans which the borrowing country may use for reducing outstanding debt or for credit-enhancement. In addition, countries should adopt measures to promote domestic savings and investment, and pursue policies to encourage foreign direct investment and to recover flight capital.
1989June 6Appointment of Mr. Alexander von der Osten as Executive Secretary for Consultative Group for International Agricultural Research (CGIAR), replacing Mr. Curtis Farrar.
1989June 21Announcement that the Bank will establish a new field office in Mozambique, headed by Mr. Nils Tcheyan.
1989June 30Appointment of Mr. Koji Kashiwaya as Vice President, Cofinancing and Financial Advisory Services, replacing Mr. Kunihiko Inakage.
1989July 19President Conable flies to Morocco and Algeria, his first visit to these countries since becoming Bank President in 1986.
1989July 19World Bank announces its Expanded Cofinancing Operations (ECOs) program, which enables the Bank to provide flexible support for borrowers' financing transactions and will broaden the scope of the bank's commercial cofinancing program – the "B-loan" program.
1989AugustExecutive Directors approved the commissioning of a new History of the World Bank Group, to be managed by the Brookings Institution, and authored by John Lewis of Princeton University and Richard Webb of Peru, to be issued in 1994.
1989August 1The Debt-Reduction Facility for IDA-Only Countries, designed to ease the burden on those countries of external commercial debt, is established.
1989August 9MIGA Articles of Agreement signed by Norway, becoming the 52nd member of MIGA.
1989August 11Announcement that Vice President William J. Cosgrove is retiring from the Bank after 26 years of service.
1989August 31Mr. Sune Carlsson, Vice President and Controller, retires from Bank.
1989September 11President Conable address a conference on "Global Environment and Human Response Towards Sustainable Development" in Tokyo, saying that the linkage between environmental degradation, poverty, unchecked population growth, and underdevelopment must be broken, and commits the Bank to bringing economic development and environmental protection into harmony.
1989September 18World Bank launched its first global bond offering, a $1.5 billion 10-year issue. It is the largest fixed-rate dollar-denominated debt issue ever in the international capital markets.
1989September 19IBRD, IFC, IDA and MIGA Articles of Agreement signed by Angola, becoming the 152nd member of the Bank, the 134th member of IFC, the 138th member of IDA, and the 53rd member of MIGA.
1989September 25World Bank and European Investment Bank (EIB) agree to cooperate in a major effort to protect the Mediterranean Sea and its coastal areas from further environmental degradation. The Environmental Program for the Mediterranean (EPM) foreshadows the Mediterranean Environmental Technical Assistance Program (METAP) which becomes operational in 1990.
1989September 26President Conable opens Annual Meetings in Washington.
1989October 16Appointment of Mr. Luis Dodero as General Counsel of MIGA.
1989October 27MIGA Articles of Agreement signed by Ireland, becoming the 54th member of MIGA.
1989November 15Wilfried P. Thalwitz appointed Senior Vice President Policy, Planning and Research, replacing W. David Hopper.
1989November 22World Bank issues Sub-Saharan Africa: From Crisis to Sustainable Growth, a comprehensive assessment of the needs of the Sub-Saharan world. The report calls for a doubling of expenditure on human resource development: food security, primary education, and health care.
1989December 1IFC reorganization: Treasury and Financial Policy Department and Controllers' and Business Planning Department established under Mr. Richard Frank.
1989December 1As the beginning of the Main Complex Rehabilitation Project, the B and C buildings are closed.
1989December 7President Conable announces new initiative to strengthen the representation of women in senior management, following a Staff Association study on hiring patterns.
1989December 8Senior Management Reorganization "fine-tuning": Senior Vice Presidents for Operations, Finance, and Policy Research and External Affairs established; Vice President for Personnel and Administration (Mr. Bilsel Alisbah appointed), Planning and Budgeting (Mr. Robert Picciotto appointed), and Secretary's; Director General for Operations Evaluation; General Counsel.
1989December 14IDA-9 negotiations close, with record funding of $15 billion) pledged.
1989December 18Ann Hamilton succeeds Bilsel Alisbah as Chairman of the Appeals Committee.
1989December 28MIGA Articles of Agreement signed by France, becoming the 55th member of MIGA.



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