Announcement of World Bank President Conable to Visit Tanzania on February 16, 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. 87/58 Contact: Akin Fatoyinbo (202) 477-3294 WORLD BAK PRESIDENT CONABLE TO VISIT TANZANIA DAR-ES-SALAAM, February 16 -- The President of the World Bank, Mr. Barber B. Conable, arrives in Dar-es-Salaam on Tuesday, February 17, 1987, for a two-day visit to Tanzania. Mr. Conable's trip is the first to Tanzania since he became the World Bank President on July 1, 1986. While in Tanzania, Mr. Conable will meet with senior Government and party officials, representatives of the private sector, and also visit some Bank-assisted projects. He will be received in audience by President Mwinyi. The discussions will focus on relations between Tanzania and the World Bank, especially the Bank's support of the Government's economic recovery program. Tanzania became a member of the World Bank and its two affiliates, the International Development Association (IDA) and the International Finance Corporation (IFC), in September 1962. Since then, Tanzania has received Bank and IDA assistance to finance some 80 development projects and programs. In addition, Tanzania has benefitted from loans extended for the development of the common services operated by the former East African Community. IFC investments in Tanzania include the Kilombero Sugar Company, soap manufacturing, metal product manufacturing and the Amboni sisal rehabilitation project. The World Bank lending in Tanzania has centered on assisting projects in agriculture, transport and communications, industry and education and manpower development. Beyond specific projects, the Bank Group has also provided non-project assistance to support the Government's efforts to deal with its balance of payments difficulties. The current priority of the Bank is to assist Tanzania as it makes the institutional and policy changes needed to rehabilitate the economy and stimulate growth. Mr. Conable, 64, became the World Bank President two years after retiring as a member of the United States House of Representatives. Be had served in Congress for 20 years. He is accompanied on the visit t0 Tanzania by his wife, Charlotte, and senior officials of the Rank.