Announcement of One Hundred Million Saudi Arabian Increase in Contribution to International Development Associations' Fifth Replenishment on May 16, 1978

•World Bank 1813 H Street, N.W. 1 Washington 1 D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK NEWS RELEASE May 16, 1978 $100 MILLION SAUDI ARABIAN INCREASE fN CONTRIBUTION TO INTERNATIONAL DEVELOPMENT ASSOCfATIONS'S FIFTH.REPLENISHMENT The President of the World Bank, Mr. Robe·rt S. McNamara, has been informed by the Minister of Finance and National Economy in Saudi Arabia, Mr. Mohamned Aba Al-Khail, of the Saudi Government's decision to increase the Saudi contribution to the International Development Association's (IDA) fifth replenishment by an amount equivalent to $100 • million (Saudi Riyal 353,000,000). This will increase the resources of the World Bank's affiliate for concessionary lending to over $7,730 million. fDA's assistance is concentrated on very poor countries ~ith per capita incomes mostly below $280 (in 1976 prices). With 4.6% of the total contribution to IDA's resources, Saudi Arabia ranks seventh among the 26 contributing countries, after the United States, the United Kingdom. the Federal Republic of Germany, Japan, Canada, and France. Saudi Arabia, Kuwait and the United Arab Emirates' contributions represent 7.6% of fDA's total resources. An increase in Saudi Arabia's contribution to fDA was discussed by H.M. King Khaled, Crown Prince Fahd and Mr. McNamara during the visit by the President of the World Bank to • Saudi Arabia in January 1978 .