Announcement of Turkmenistan Applies for Membership in World Bank on March 16, 1992

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 92/S40 Contact: Peter Riddleberger Tel. (202) 473-1786 TURKMENISTAN APPLIES FOR MEMBERSHIP IN WORLD BANK WASHINGTON, March 16, 1992--Turkmenistan has applied for membership in the World Bank Group. The country's application was submitted on March 2 by President S. Niyazov. Turkmenistan has also applied for membership in the International Monetary Fund. Membership in the IMF is a prerequisite for membership in the World Bank. So far, 13 of the 15 former Soviet republics have applied for membership in the World Bank. The World Bank Group consists of four organizations: the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency.