Announcement of Consultative Group for Colombia on June 21, 1967

( ·~ • FO. R ii :( • 1818 H STREET,N.W .• WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE. 3-6360 June 21, 1967 Subject: Consultative Group for Colombia The following press coumunique was issued on June 21 at the World Bank's European Office in Par.is: "The Consultative Group on development assistance to Colombia, organized by the World Bank, met in Paris on June 20 and 21. The following countries were represented: Belgium, Canada, Denmark, France, Germany, Italy, Japan, the Nether- lands, Spain, Switzerland, the United Kingdom and the United States. Representa- tives of the Government of Colombia, the Internat~onal Monetary Fund, the United • Nations Development. Programme, the Inter-American Development Bank, and the Inter- American Committee on the Alliance for Progress, as well as an observer from the Swedish Government, were also present. "The group reviewed a report, prepared by the World Bank, on. the current economic situation and prospects of Colombia as well as a list of· projects which have high priority for exteraal financing. "The Colombian delegation was led by the Minister of Public We>rks, Mr. Bernardo Garces and included Mr. Rodrigo Botero, Economic Secretary t" the President, Mr. Hernando Gomez, Advisor to the Monetary Board, Mr. Edgar Gutierrez, , Secretary General of the Department of Pb1nning, Mr. Jose Gutierri~z, President of the privately owned National Finance Corporation, Mr. Enrique Penalosa, General Manager of the Colombian Institute 9f Agrarian Reform and Ambassador Silvio Ville- gas, Colombian Ambassador to France • • "In his; address to the meeting, Mr. Garces described the eco1nomic policy objectives of the Colombian Government and indicated the measures put into  - 2 - effect to ·mee·t th~sc objectives. of payments n1anagement. In particular he stressed Colombian develop- ment policies in the fields of fiscal reform, agriculture, industry, and balance • "The countries and institutions represented at the",pieeting expressed appre.;., ciati.on of the presentation made by the leader of the Colombian delegation and agreed that Colombia's recent economic performance and prospects justify con- tinued assistance from members of the group. "The group recognized the progress made by the Government in preparing projects for external financing and in mobilizing domestic resources necessary for complementing such financing." • •