THE WORLD BANK GROUP ARCHIVES PUBLIC DISCLOSURE AUTHORIZED

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1 THE WORLD BANK GROUP ARCHIVES PUBLIC DISCLOSURE AUTHORIZED Folder Title: Tolley, Howard E. - Articles and Speeches ( ) - 1v Folder ID: Fonds: Records of Office of External Affairs (WB IBRD/IDA EXT) Digitized: March 04, 2014 To cite materials from this archival folder, please follow the following format: [Descriptive name of item], [Folder Title], Folder ID [Folder ID], World Bank Group Archives, Washington, D.C., United States. The records in this folder were created or received by The World Bank in the course of its business. The records that were created by the staff of The World Bank are subject to the Bank s copyright. Please refer to for full copyright terms of use and disclaimers. THE WORLD BANK Washington, D.C International Bank for Reconstruction and Development / International Development Association or The World Bank 1818 H Street NW Washington DC Telephone: Internet: PUBLIC DISCLOSURE AUTHORIZED

2 DECL ASSIFIED WBGAr hi c ves Arqiii~s 1111ffi\\ mootm l t lln~ ll Tolley, Howard E - Articl A Other#: 19. es and Speeches ( ) - 1v

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4 Speech prepared by Harold N. Graves, Jro, to be delivered by Howard E. Tolley (IBRD Resident Representative, Bangkok, Thailand) on the occasion of the ECAFE Meeting, Manila, Philippines March 7, ( ' t }'1 ~ ~6J~ ~Jb)~3) ~~JM) ~t t }...-,

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12 Copied from ~ltat,ive Colombo Plan Consultative Committee Proceedings: Second Meeting 1 November 1963 STATEMENT BY HOWARD E. TOLLEY, OBSERVER ON BEHALF OF THE INTERNATIONAL BANK FOR RECO NSTRUCTION AND DEVELOPMENT Mr. Chairman, I wish to add my congratulations on your election to the Chairmanship of this meeting. I also wish to add my thanks to our host, the Government of Thailand, for the excellent arrangements made for the meeting. The World Bank is pleased to have been invited once again to be an observer at the meeting of the Colombo Plan Consultative Committee. The Bank continues to be vitally interested in the economic progress of the countries in the Colombo Plan area, and we are convinced that the Consultative Committee is one of the most important instruments for promoting this progress. The countries of the Colombo group have accounted for a substantial part of the lending and investment activities of the Bank and its two affiliates, the International Development Association and the International Finance Corporation. From the inception of the Colombo Plan through the year ending June 30, 1963 the World Bank loaned the equivalent of more than $1,500 million to Colombo Plan countries--this represented almost one quarter of all the Bank 1 s lending during this period. Bank lending in the Colombo Plan countries was supplemented by credits of nearly $350 million from our young affiliate, the International Development Association. The International Finance Corporation added another $15 million. We hope that these activities will continue on an increasing scale in the future. For this to take place, we should have the closest possible cooperation with the countries concerned, and we consider that participation in the meetings of the Consultative Committee is one of the best means of fostering this co-operation. I wish to thank the Committee again for the invitation to be present at this meeting. Restricted Front cover: THE COLOMBO PLAN for co-operative eomnomic development m South and South-East Asia PROCEEDINGS OF THE MEETINGS OF THE CONSULTATIVE CO}iMITTEE 1963 Bangkok, Thai land

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