Announcement of Ceylon Aid Group Meeting on July 29, 1965

' : FOR IM¥EDIATE RELEASE 1NTER1'JATI0NAL BANK FOR • RECONSTRUCTION AND DEVELOPMENT 1818 H STREET. N.W., WASHINGTON D. C. 2.0433 TELEPHONE: EXECUTIVE 3-6360 July 29, 1965 Subject: Meeting on Aid to Ceylon A meeting of countries interested in helping CEzy-lon through its present foreign exchange difficulties was held yesterday and today in Washington under the auspices of the World Bank. Countries participat- ing were Australia, Canada, Japan, the United Kingdom and the United States. Germany and India were represented by observers as was the In- ternational Monetary Fund. The Government of Ceylon was represented by • Dr. Gamani Corea and Mr. David Loos • Representatives of the participating countries considered as reasonable the World Bank assessment that Ceylon needs about US$ 50 mil- lion in additional foreign aid during the remainder of this year. They also indicated the interest of their governments in helping to meet Ceylon's exchange shortage and their intention to give early considera- tion to the ~~tent of their individual participation in the assistan1ce effort. The particular arrangements f'or assistance to Ceylon by indj_ vidual countries are to be worked out on a bilateral basis • •