Announcement of Moldova Joins World Bank on August 12, 1992

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. 93/S8 Contact: Bill Brannigan Tel. (202) 473-1784 MOLDOVA JOINS THE WORLD BANK WASHINGTON, August 12, 1992--Moldova joined the International Bank for Reconstruction and Development (IBRD) today. Prime Minister Andrei Sangheli signed the IBRD's Articles of Agreement during a ceremony held at the U.S. Department of State in Washington. The country becomes the 166th member of the IBRD, which is the World Bank Group's main lending arm that provides loans at market rates to member countries to help them finance development projects. To fulfill its financial obligations as a member of the IBRD, Moldova is making a payment of $7.6 million to the institution. Moldova applied for membership in the IBRD on January 11, 1992. It is the eighth former Soviet republic to have joined the IBRD. Russia joined on June 16, Estonia on June 23, and Lithuania on July 6, Belarus on July 10, Kazakhstan on July 23, Georgia on August 7, and Latvia on August 11.