Announcement of World Bank President Conable Visits Zambia on February 12, 1987

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. 87/57 Contact: Akin Fatoyinbo (202) 477-3294 WORLD BAIK PRESIDENT CONABLE VISITS ZAMBIA LUSAKA, February 12 -- The President of the World Bank, Mr. Barber B. Conable, arrives in Lusaka on Friday, February 13, 1987, for a four-day visit to Zambia, on the second leg of a three-nation tour of Eastern and Southern Africa. Mr. Conable is making his first trip to Africa since he assumed the Presidency of the World Bank on July 1, 1986. He arrives in Lusaka after a five-day visit to Kenya (February 8-13). From Lusaka, he flies on to Dar-es-Salaam for a two-day stay in Tanzania (February 17-19). In Zambia, Mr. Conable will discuss Bank-Zambian relations and the country's economic situation and prospects with President Kaunda, senior Government and party officials and representatives of the private sector. He will also visit some of the projects supported by the World Bank in Zambia. Zambia became a member of the World Bank and its two affiliates, the International Development Association (IDA) and the International Finance Corporation (IFC), in September 1965. Zambia has received about $870 million in Bank loans and IDA credits to finance some 50 development projects. In addition, two loans were made to Zambia and Zimbabwe jointly to finance shared power facilities on the Zambezi River. The IFC has invested about $87 million in 11 projects. The World Bank has assisted projects in all sectors of the Zambian economy. Four loans and one credit for education have helped expand Zambia's secondary and higher education systems, teacher training, and agricultural and technical education. Funds have also been provided for projects in agriculture, forestry, fisheries, urban development, copper mining, manufacturing, etc. The current focus in Bank lending is to support the Zambian government's efforts to restructure the economy and put the country on a path of stable and sustained growth. Mr. Conable, 64, became the World Bank President two years after retiring as a member of the United States House of Representatives. He had served in Congress for 20 years. He is accompanied on the visit to ~ambia by his wife, Charlotte, and senior officials of the World Bank.