Announcement of China on September 25, 1980

. . FOR IMMEDIATE . RELEASE .. "Norld Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE September 25, 1980 CHINA The Board of Governors of the World Bank has authorized the acceptance by the Bank of the subscription of China to an additional 4,500 shares of the capital stock of the Bank. This action is in accordance with Article II, Section 3(b) of the Articles of Agreement • of the Bank. The authorization raises China's subscription to 12,000 shares from the original 7,500 shares. In a related action, the Board of Governors adopted a resolution to the effect that if by the Regular Election of Executive Directors to be held during the 1980 Annual Meeting of the Board of Governors, China has subscribed an additional 4,500 shares of the capital stock of the Bank, there shall be elected 16 Executive Directors at such Regular Election to enable China to occupy a seat. The Bank now has 20 Executive Directors including 15 elected Executive Directors, representing 135 member countries. The Bank's Annual Meeting is due to open September 30, 1980, in Washington, D.C. The Bank's Executive Directors decided on May 15, 1980, that the People's Republic of China represents China in the Bank . • - 0 -