Announcement of Consultative Group for Colombia on January 31, 1969

\/ ~ FOR IMMEDIATE RELEASE ' "' e r, ! · 1I:'1T'ERNATI0f\J1-\L Pt1'!~"< FOR ~· Rt:.CONSTRUCTION l AN DEVELOPMENT 1818 H STREET, N.W., WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 January 31; 1969 Subject: Co:nsultative Group for Colombia The following announcement was issued today at the World Bank's European Office in Paris: "The fourth meeting of the Consultative Group on development assistance to Colombia was held in. Paris on January 30 and 31, 1969 under the chairmanship of the World Bank. The meeting was. -attended by representatives of the governments of Belgium-~ Can~da, Denmark, F~ance, Gennany, Italy, Japan, the Netherlands, Spain, Switzerland, the United Kingdom and the United States. Representatives • of the Government of Colombia, the International Monetary Fund, the Unite'd Nations Development Programme, the Inter-American Development Bank and the Inter-American Committee on the Alliance for Progress were also present. "The Colombian delegation was led by His Excellency Misa.el Pastrana Borrero and included Messrs. Enrique Penalosa, Silvio Villegas_, Carlos Obando, Albe1rto Galindo, Alfonso. Latorre, Jorge Mejia Palacio, Edgar Gutierrez, Jorge Ruiz, Vicente Uribe, Rodrigo Botero and Omar Botero. "The Group discuss.ed a report, prepared by the World Bank, on the current economic situation and prospects of Colombia, as well as the projects scheduled for ex~ernal financing during 1969 and the period beyond to 1973. "In his address to the meeting, Ambassador Pastrana summarized the progress achieved since the third meeting of the Group, described the economic policy objectives of his Government and the measures taken or to be taken to meet these objectives. /more • - 2 - "He explained in particular Colombian development p.olicies in the fields of fiscal reform, agriculture, industry and balan~.e of payments management, and the steps taken to expand and diversify non-coffee exports. He stressed t!J.e extent to whj.ch success in meet;-ing these objectives would depend not only on the Colombian Government, but also on the continued fin~ncial ~upport of the mem- bers of the Group. "The Group expressed appreciation of the presentation made by Ambassador Pastrana and the other members of the Colombian delegation and agreed th~t Colombia's recent ec~nomic performance and development prospects justified co~tinued assist~nce from members of the group. The members re~o~nized that -~. . ·~;:: 6 .--...- ,. ~..- -.!. . •. ~ • .: - •: ~- - ,_ ... ,_ ,. •;. . .; !:.. ··.r.. -· :i:.. •.. .• - - _..,.. I_ the volume of project lending envisioned .for 1969 was realizable and that there was a convincing case for continuing program loan assistance on a de- • clining scale through 1973." - 0 - •