Announcement of Saudi Arabia Joins Fund and Bank on August 26, 1957

r. (j /o I/ ' 0 • For Immediate Release Joint Press Release INTERNATIONAL MONErARY FUND re/ and (1' )/ <,\ mr;~TIONAL BANK FOR RECONSTRUCTION AND DEVELOPMEnr:r \) ' FOR THE PRESS Fund Press Release No. 261 SUBJECT: Saudi Al-!9-bia joins Bank Press Release No. 496 Fund and Bank "·.\ August 26, 1957 -- ~-~ ~-- --· - -·~ ~.. --- ---- ~-.. ' .... \' ,Saudi Al"t3;bia toa.ay=;became a member of the International Monetary Fund and tlfe International Bank for Reconstruction and Development when the « • Articles of Agreement of.' thes~. institutions were s'igned in Washington on (..", behalf of the Government of Saudi Arabia r, by His Excellency Sheikh Abdullah ~ Al-Khayyal, Ambassador for .Saudi Arabia in Washington'~ The quota of Saudi .Arabi.a in the International Monetary Fund is $1Q million and its subscriptiqn to the capital stock of the Bank is 100 shar~~ <'' with a total par value of $10 million. Si~y-two nations a.re now members 3pf the :Fund and Bank. Admission \) of Saudi Arabia brought the total of members ' quotas in the Fund to $8,981,000,000. The total subscribed ca.pital of the Bank iscnow $9,308,4oo,ooo. 0