Announcement of Ceylon Aid Group on April 20, 1967

• 1818 H STREET, N.W .. WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360Uklo '=f-/ April 20, 1967 Ceylon Aid Group The following press communique was issued on April 19 in Tokyo, Japan: "The third meeting of the group of coTmtries interested in aid to Ceylon met in Tokyo, April 18 and 19, under the Chairmanship of the World Bank. The following countries were represented: Australia, Canada, France, Germany, Japan, the United Kingdom and the United States. Representatives of the International Monetary Fund and the Asian Development Bank and observers from India and Italy also attended. The Ceylon delegation was led by Dr. Gamani, Corea, Parmanent Secretary, Ministry of Planning and Economic Affairs. "The Group noted with Ratisfaction the marked progress made by the Government ~ since the last meeting in May 1966 in overcoming Ceylon's basic food problems and introducing practical measures to stimulate the growth of the economy. The Group recognized, however, that an unexpectedly sharp decline in the prices of CeyloP'o principal exports during the past year had prolonged the period of recovery. "Preliminary indications by members of the Group of their aid intentions during the remainder of the year, together with disbursements of aid from earlier commitments, suggest that Ceylon can expect a substantially highe~ level of aided imports during 1967 than in 1966. It appeared that a number of projects which offer early relief to Ceylon's balance of payment difficulties would shortly be ready for consideration by members of the Group. Several of these were expected to be suitable for Bank/IDA financing. "The Group provisionally agreed to meet again early in 1968." •