1146 Intergovernmental organizations

Chapter VII International Finance Corporation (IFC)

The International Finance Corporation (IFC), government-related financial institutions of industrial established in 1956 as an affiliate of the Interna- countries which specialized in aiding private enter- tional Bank for Reconstruction and Development prises in developing countries. (World Bank), is a multilateral development institu- During the year, IFC approved investments in tion that promotes private investment and assists Grenada, Mozambique and Seychelles for the first private enterprises in its developing member coun- time. It also approved investments in two other coun- tries. Its capital resources are provided by its 128 tries in which it had not invested for the previous member States—including 107 developing three years. Thirty-three investments, with a total countries—which collectively determine its policies value of $295 million, were located in countries with and activities. an annual per capita income below $800. In 1986, During the fiscal year ending 30 June 1986, the more than 26 per cent of the loans were priced at second year of IFC's current five-year programme, variable rates, with 43 per cent of United States the Board of Directors approved 85 investments in dollar-denominated loans so priced. 39 developing countries and one world-wide in scope, Supplementing its loans, equity and equity-like totalling $1,156 million. Of that amount, $710 million instruments, IFC provided a broad range of other was to be invested for IFC's own account and $446 financial services, including underwritings, million would be syndicated, or sold, to other in- guarantees, stand-by arrangements and swaps. vestors. Compared to the 1985 fiscal year, the total Technical assistance activities were generally pro- approved investments increased by $218.8 million, vided free of charge. However, to bring itself in line from $937.2 million, and investments net of syn- with market practice, IFC began to charge fees for dication rose $100.7 million, from $609.3 million. special service activities, generating some $3.9 million Of the total dollar amount, $1,070 million was for in income for IFC in fiscal year 1986. loans and $86 million for equity investments. Of The Corporation continued to seek out commer- the equity, $4 million was approved for the exercise- cial banks and other financial institutions to join of-rights issues by firms in which IFC already had in loan syndications and parallel financing. Dur- equity investments. Thirteen of the loans, totalling ing the year, some $446 million in loans by IFC was $139 million, involved corporate restructuring. syndicated with such institutions. Syndications pro- IFC estimated that the total capital costs of pro- cessed with commercial banks included new funding jects it would help to finance would be more than for projects in Argentina, Bangladesh, Brazil, Co- $3,588 million. In other words, for every $1 invested lombia, Egypt, India, Thailand and Zimbabwe. by IFC for its own account, others would invest Many of the larger projects involved energy devel- about $4. opment. Loans were made at market rates. The typical In 1986, under its five-year financial and opera- United States dollar fixed-rate loan was priced at tional plan covering the fiscal years 1985 to 1989, 10.37 per cent for a period of 7 to 8 years with a IFC provided new financial services to its developing grace period of 4 years. The maturities of IFC loans, member countries, while continuing its main role set to conform to the nature and needs of each pro- of assisting in the financing of private sector pro- ject, ranged from 7 to 12 years. jects. The newly established Foreign Investment Ad- Of the projects approved during the year, 42 per visory Service aimed to help members review and cent of the investment finance went to Asia, 32 per adjust their policies, regulations and investment pro- cent to Latin America, 16 per cent to Europe and motion strategies affecting foreign direct investment. the Middle East, and 10 per cent to Africa. The Funding from the United Nations Development Pro- largest proportion, 30 per cent, of investment was gramme (UNDP) supported regional advisory pro- for projects relating to fertilizers, chemicals and grammes in Africa and Asia. With regard to financial petrochemicals; 19 per cent was for energy and markets, IFC established several equity lines and minerals; 16 per cent for other manufacturing; 9 credit lines with banks and venture capital com- per cent for tourism and services; 8 per cent for panies to help small and medium-sized businesses capital markets and financial services; 7 per cent in Argentina, Côte d'Ivoire, Kenya and Pakistan, for wood, pulp and paper; 6 per cent for agribusiness; and launched the Emerging Markets Growth Fund and 5 per cent for cement and steel. Some $254.7 to invest in publicly listed shares in certain developing million of the investments was taken up by countries. In institutional development, IFC began International Finance Corporation 1147 a promotional campaign to increase awareness of IFC INVESTMENTS investment opportunities in developing countries (1 July 1985-30 June 1986) among corporations and financial institutions in Amount Europe, Japan and North America. Other ac- (in thousands of tivities included the application of new financial Recipient Sector US dollars) services and instruments and measures enabling Argentina Textiles 16,020 developing countries to benefit more from in- Chemicals and petrochemicals 8,000 novation in financial markets. Capital markets 10,000 Energy 113,000 Also under the five-year programme, cor- Cement and construction materials 9,000 porate restructuring assistance was provided to Pulp, paper and timber 400 15 companies to reflect economic policy ad- Bangladesh Manufacturing 250 Brazil Cement and construction materials 30,000 justments made by their Governments. Concern- Iron and steel 19,120 ing African initiatives, the Board of Directors ap- Agribusiness 25,000 proved loans of equity investments totalling $117 Pulp, paper and timber 30,900 Automotive/vehicles 2,100 million for 24 business ventures. In May, IFC, in Cameroon Textiles 2,350 co-operation with UNDP and the African Devel- Agribusiness 2,450 opment Bank, launched the Africa Project De- Colombia Enery and mining 2,900 velopment Facility to help African entrepreneurs Textiles 6,000 and companies develop sound business ventures Congo Pulp, paper and timber 2,690 Cote d'lvoire Capital markets 4,560 and find financing for their investments. With Textiles 7,990 regard to energy, IFC initiated, appraised and Dominican Republic Agribusiness 1,600 negotiated the exploration of energy resources Tourism 6,000 for its members, among them Argentina, Co- Egypt Chemicals and petrochemicals 7,470 79,500 lombia, Ghana, Tunisia and Turkey. IFC was Energy Fiji Pulp, paper and timber 3,980 also involved in the appraisal and financing of oil Capital markets 2,340 projects in Argentina, Egypt and Yemen, and in Grenada Tourism 6,000 the development of a coal project in Colombia. Guinea Capital markets 1,000 The Board of Directors approved $193 million Honduras Agribusiness 580 for energy-related projects. India Automotive/vehicles 15,140 Capital markets 15,000 While continuing to borrow most of its funds Manufacturing 9,360 from the World Bank, IFC borrowed $350 Iron and steel 11,700 Tourism and services 10,000 million from international capital markets, Agribusiness 4,700 meeting a portion of its needs, by raising funds Indonesia Tourism 9,840 through seven private placements. During the Jamaica Agribusiness 4,650 year, IFC also borrowed $150 million in various Kenya Capital markets 1,500 currencies from the World Bank. On 26 Liberia Pulp, paper and timber 8,500 December 1985, the IFC Board of Governors ap- Malawi Capital markets 720 proved the Board of Directors' resolution to in- Mauritius Textiles 6,000 Mexico Agribusiness 2,000 crease IFC's capital stock to $1,300 million with Pulp, paper and timber 15,900 the authorization of $650 million in new shares. Guarantee facility 20,000* During the 1986 fiscal year, Tonga joined IFC, Tourism 1,100 Morocco Mining 4,590 bringing its membership to 128. Mozambique Agribusiness 2,500 Nigeria Manufacturing 9,100 IFC COMMITMENTS BY TYPE OF BUSINESS Textiles 11,140 (as at 30 June 1986} Pakistan Cement and construction materials 7,240 Amount Panama Capital markets 22,500 (in millions of Manufacturing 700 Sector US dollars) Peru Mining 10,000 Philippines Development financing 1,000 Chemicals and petrochemicals 340.78 Agribusiness 6,030 Energy and mining 21 8.99 Tourism and services 30,000 Tourism and services 85.20 Republic of Korea Capital markets 12,650 Capital markets 84.90 Manufacturing 6,000 Pulp, paper and timber 78.04 Senegal Textiles 2,570 Textiles 76,27 Seychelles Tourism 9,450 Manufacturing 66.02 Agribusiness 64.68 Swaziland Development financing 3,000 Agribusiness 2,090 Cement and construction materials 46,24 Automotive/vehicles 40.21 Thailand Chemicals and petrochemicals 323,030 Agribusiness 4,880 Iron and steel 30.82 Tourism and services 4,940 Guarantee facility 20.00 Tunisia Chemicals and petrochemicals 2,280 Development financing 4.00 Textiles 8,200 Total 1,156.15 Capital markets 2,930 1148 Intergovernmental organizations

Amount Amount (in thousands of (in thousands of Recipient Sector US dollars) Income US dollars) Turkey Manufacturing 8,230 Realized gain on equity sales 13,618 Tourism 7,870 Dividends and profit participations 12,528 Textiles 15,500 Commitment fees 5,467 Uruguay Capital markets 3,000 Other investment fees 3,867 Yemen Agribusiness 2,860 Other operating income 196 Energy 9,000 Total income 210,384 Yugoslavia Automotive/vehicles 22,970 Manufacturing 32,380 Expenditure Zimbabwe Agribusiness 5,340 Charges on borrowings 83,716 Pulp, paper and timber 15,670 Administrative expenses* 60,196 World Capital markets 8,700 Total expenditures 143,912 Total 1,156,150† Translation losses, net (2,060) * Contractor bonding facility. Provision for losses (39,007) † Includes bonding facility. Net income-transferred to accumulated earnings 25,405

Financial operations * The World Bank charges IFC an annual service and support fee which for the IFC's total operating income in fiscal year 1986 year ending 30 June 1986 was fixed at $3,130,000. was $210.4 million, or $37.7 million higher than in the previous year. Reflecting in part its increased Capital and accumulated savings business activities, IFC administrative expenses in- The net income of $25.4 million was allocated creased by $8.7 million over the previous year to to accumulated earnings, bringing the total to $60.2 million. Net income amounted to $25.4 $283.8 million. With paid-in capital of $601.8 million, which was added to accumulated earnings. million, net worth reached $885.6 million, up from $804.2 million at the end of the previous STATEMENT OF INCOME AND EXPENDITURE fiscal year. (for fiscal year ending 30 June 1986) Amount fin thousands of Secretariat Income US dollars) At the end of the fiscal year, IFC had a total Income from deposits and securities 32,789 Income from loan and equity investments staff of 498, drawn from 70 countries, including Interest 141,919 54 developing countries.

Annex I. MEMBERS OF THE INTERNATIONAL FINANCE CORPORATION, SUBSCRIPTIONS AND VOTING POWER (As at 30 June 1986)

SUBSCRIPTION VOTING POWER SUBSCRIPTION VOTING POWER

Amount (in Amount (in thousands Percent- Number Percent- thousands Percent- Number Percent- of US age of age of US age of age MEMBER dollars) of total votes of total MEMBER dollars) of total votes of total Afghanistan 111 0.02 361 0.06 Cyprus 682 0.11 932 0.15 Argentina 9,821 1.63 10,071 1.59 Denmark 5,921 0.98 6,171 0.97 Australia 12,191 2.03 12,441 1.96 Djibouti 21 * 271 0.04 Austria 5,085 0.85 5,335 0.84 Dominica 11 * 261 0.04 Bangladesh 2,328 0.39 2,578 0.41 Dominican Republic 306 0.05 556 0.09 Barbados 115 0.02 365 0.06 Ecuador 674 0.11 924 0.15 Belgium 13,723 2.28 13,973 2.20 Egypt 3,124 0.52 3,374 0.53 Belize 26 * 276 0.04 El Salvador 11 * 261 0.04 Bolivia 490 0.08 740 0.12 Ethiopia 33 0.01 283 0.04 Botswana 29 * 279 0.04 Fiji 91 0.02 341 0.05 Brazil 10,169 1.69 10,419 1.64 Finland 5,009 0.83 5,259 0.83 Burkina Faso 245 0.04 495 0.08 France 36,582 6.08 36,832 5.81 Burma 666 0.11 916 0.14 Gabon 429 0.07 679 0.11 Burundi 100 0.02 350 0.06 Gambia 35 0.01 285 0.04 Cameroon 490 0.08 740 0.12 Germany, Federal Republic of 41,135 6.84 41,385 6.53 Canada 20,952 3.48 21,202 3.35 Ghana 1,306 0.22 1,556 0.25 Chile 2,328 0.39 2,578 0.41 Greece 1,777 0.30 2,027 0.32 China 4,154 0.69 4,404 0.69 Grenada 21 * 271 0.04 Colombia 2,083 0.35 2,333 0.37 Guatemala 306 0.05 556 0.09 Congo 67 0.01 317 0.05 Guinea 134 0.02 384 0.06 Costa Rica 245 0.04 495 0.08 Guinea-Bissau 18 • 268 0.04 Côte d'Ivoire 1,131 0.19 1,381 0.22 Guyana 368 0.06 618 0.10 International Finance Corporation 1149

SUBSCRIPTION VOTING POWER SUBSCRIPTION VOTING POWER

Amount (in Amount (in thousands Percent- Number Percent- thousands Percent- Number Percent- of US age of age of US age of age MEMBER dollars) of total votes of total MEMBER dollars) of total votes of total Haiti 306 0.05 556 0.09 Philippines 3,247 0.54 3,497 0.55 Honduras 184 0.03 434 0.07 Portugal 2,144 0.36 2,394 0.38 Hungary 1,364 0.23 1,614 0.25 Republic of Korea 2,450 0.41 2,700 0.43 Iceland 11 * 261 0.04 Rwanda 306 0.05 556 0.09 India 19,788 3.29 20,038 3.16 Saint Lucia 19 * 269 0.04 1.20 Indonesia 7,351 1.22 7,601 Samoa 9 * 259 0.04 0.06 0.10 Iran 372 622 Saudi Arabia 9,251 1.54 9,501 1.50 Iraq 67 0.01 317 0.05 Senegal 707 0.12 957 0.15 Ireland 332 0.06 582 0.09 Seychelles 7 * 257 0.04 Israel 550 0.09 800 0.13 83 0.01 333 0.05 Italy 19,114 3.18 19,364 3.06 Sierra Leone Jamaica 1,103 0.18 1,353 0.21 Singapore 177 0.03 427 0.07 Japan 31,648 5.26 31,898 5.03 Solomon Islands 11 * 261 0.04 Jordan 429 0.07 679 0.11 Somalia 83 0.01 333 0.05 Kenya 1,041 0.17 1,291 0.20 South Africa 4,108 0.68 4,358 0.69 Kuwait 4,533 0.75 4,783 0.75 Spain 6,004 1.00 6,254 0.99 Lebanon 50 0.01 300 0.05 Sri Lanka 1,838 0.31 2,088 0.33 Lesotho 18 * 268 0.04 Sudan 111 0.02 361 0.06 Liberia 83 0.01 333 0.05 Swaziland 184 0.03 434 0.07 Libyan Arab Jamahiriya 55 0.01 305 0.05 Sweden 8,577 1.43 8,827 1.39 Luxembourg 683 0.11 933 0.15 Syrian Arab Republic 72 0.01 322 0.05 Madagascar 111 0.02 361 0.06 Thailand 3,491 0.58 3,741 0.59 Malawi 368 0.06 618 0.10 Togo 368 0.06 618 0.10 Malaysia 4,857 0.81 5,107 0.81 Tonga 9 * 259 0.04 Maldives 4 * 254 0.04 Trinidad and Tobago 1,059 0.18 1,309 0.21 Mali 116 0.02 366 0.06 Tunisia 919 0.15 1,169 0.18 Mauritania 55 0.01 305 0.05 0.51 3,313 0.52 Mauritius 429 0.07 679 0.11 Turkey 3,063 735 0.12 985 0.16 Mexico 6,004 1.00 6,254 0.99 Uganda Morocco 2,328 0.39 2,578 0.41 United Arab Emirates 1,838 0.31 2,088 0.33 Mozambique 182 0.03 432 0.07 United Kingdom 37,900 6.30 38,150 6.02 Nepal 306 0.05 556 0.09 United Republic of Tanzania 724 0.12 974 0.15 Netherlands 14,458 2.40 14,708 2.32 United States 174,488 29.00 174,738 27.57 New Zealand 923 0.15 1,173 0.19 Uruguay 919 0.15 1,169 0.18 Nicaragua 184 0.03 434 0.07 Vanuatu 55 0.01 305 0.05 Niger 67 0.01 317 0.05 Venezuela 7,106 1.18 7,356 1.16 Nigeria 5,575 0.93 5,825 0.92 Viet Nam 166 0.03 416 0.07 Norway 4,533 0.75 4,783 0.75 Yemen 184 0.03 434 0.07 Oman 379 0.06 629 0.10 Yugoslavia 2,879 0.48 3,129 0.49 Pakistan 5,465 0.91 5,715 0.90 Zaire 1,929 0.32 2,179 0.34 Panama 344 0.06 594 0.09 Zambia 1,286 0.21 1.536 0.24 Papua New Guinea 490 0.08 740 0.12 Zimbabwe 546 0.09 796 0.13 Paraguay 123 0.02 373 0.06 Peru 1,777 0.30 2,027 0.32 Total 601,755 100.00† 633,755 100.00† * Less than 0.005 per cent. † May differ from the sum of the individual percentages because of rounding.

Annex II. EXECUTIVE DIRECTORS AND ALTERNATES OF THE INTERNATIONAL FINANCE CORPORATION (As at 1 July 1986)

Appointed Director Appointed Alternate Casting the vote of Vacant Hugh W. Foster United States Gerhard Boehmer Michael von Harpe Federal Republic of Germany Tim Lankester Richard Manning United Kingdom Hélène Ploix Olivier Debains France Kenji Yamaguchi Zenbei Mizoguchi Japan

Elected Director Elected Alternate Casting the votes of Fawzi Hamad Al-Sultan (Kuwait) Mohammad Al-Shawi (Saudi Arabia) Egypt, Iraq, Jordan, Kuwait, Lebanon, Maldives, Oman, Pakistan, Saudi Arabia, Syrian Arab Republic, United Arab Emirates, Yemen C. Ulrik Haxthausen (Denmark) Per Taxell (Sweden) Denmark, Finland, Iceland, Norway, Sweden Frank Potter (Canada) Horace Barber (Jamaica) Barbados, Belize, Canada, Dominica, Grenada, Guyana, Ireland, Jamaica, Saint Lucia Jacques de Groote (Belgium) Oral Akman (Turkey) Austria, Belgium, Hungary, Luxembourg, Turkey C. R. Krishnaswamy Rao Sahib (India) Gholam Kibria (Bangladesh) Bangladesh, India, Sri Lanka Mario Draghi (Italy) Rodrigo M. Guimaraes (Portugal) Greece, Italy, Portugal 1150 Intergovernmental organizations

Elected Director Elected Alternate Casting the votes of Leonor Filardo de Gonzalez (Venezuela) Maria Antonieta Domínguez (Honduras) Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Spain, Venezuela Ferdinand van Dam (Netherlands) Riza Sapunxhiu (Yugoslavia) Cyprus, Israel, Netherlands, Yugoslavia Vibul Aunsnunta (Thailand) Sashi N. Shah (Nepal) Burma, Fiji, Indonesia, Malaysia, Nepal, Singapore, Thailand, Viet Nam Edgar Gutiérrez-Castro (Colombia) Patricio Rubianes (Ecuador) Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Philippines Ronald H. Dean (Australia) You Kwang Park (Republic of Korea) Australia, New Zealand, Papua New Guinea, Republic of Korea, Samoa, Solomon Islands, Vanuatu Astère Girukwigomba (Burundi) Mitiku Jembere (Ethiopia) Botswana, Burundi, Ethiopia, Gambia, Guinea, Kenya, Lesotho, Liberia, Malawi, Mozambique, Nigeria, Seychelles, Sierra Leone, Sudan, Swaziland, Trinidad and Tobago, Uganda, United Republic of Tanzania, Zambia, Zimbabwe Kenneth Coates (Uruguay) Félix Alberto Camarasa (Argentina) Argentina, Bolivia, Chile, Paraguay, Peru, Uruguay Nicéphore Soglo (Benin) André Milongo (Congo) Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Djibouti, Gabon, Guinea-Bissau, Madagascar, Mali, Mauritania, Mauritius, Niger, Rwanda, Senegal, Somalia, Togo, Zaire Mourad Benachenhou (Algeria) Salem Mohamed Omeish (Libyan Arab Afghanistan, Ghana, Iran, Libyan Arab Jamahiriya, Jamahiriya) Morocco, Tunisia Xu Naijiong (China) Yang Guanghui (China) China

NOTE: South Africa did not participate in the 1984 regular election of Executive Directors. Tonga became a member after that election.

Annex III. PRINCIPAL OFFICERS AND OFFICES OF THE INTERNATIONAL FINANCE CORPORATION (As at 1 July 1986)

PRINCIPAL OFFICERS

President: A. W. Clausen.* Director and Economic Adviser, Development Department: Richard W. Executive Vice-President: William S. Ryrie. Richardson. Vice-President, Corporate Affairs and Development: Francisco J. Alejo. Deputy Director, Engineering: David B. Minch. Vice-President, Investment Operations: Judhvir Parmar. Director, Financial Management and Planning: Richard H. Frank. Vice-President, Portfolio and Financial Management: Hilary P. Reddy. Senior Adviser, Information Technology: Alien F. Shapiro. Vice-President and General Counsel: Jose E. Camacho. Deputy General Counsel: Walter F. Norris. Vice-President, Engineering: Makarand V. Dehejia. Director, Management Systems and Accounting: Roswitha J. Klement-Francis. Secretary: Timothy T. Thahane.* Manager, Personnel and Administration Department: John H. Stewart. Director, Department of Investments, Africa I: Andre G. Hovaguimian. Special Representative, Middle East: Cherif Hassan. Director, Department of Investments, Africa II: M. Azam K. Alizai. Special Representative, Far East: Naokado Nishihara. Director, Department of Investments, Asia I: Torstein Stephansen. Special Representative in Europe, London: Hans Pollan. Director, Department of Investments, Asia II: Wilfried E. Kaffenberger. Special Representative in Europe, Paris: Gunter H. Kreuter. Director, Department of Investments, Europe and Middle East: Douglas Regional Mission in East Asia: Vijay K. Chaudhry. Gustafson. Regional Mission in Eastern and Southern Africa: V. S. Raghavan. Director, Department of Investments, Latin America and Caribbean I: Helmut Paul. Regional Mission in India: Athishdam Tharmaralnam. Director, Department of Investments, Latin America and Caribbean II: Daniel Regional Mission in Indonesia: Peter L. F. Edmonds. F. Adams. Regional Mission in Turkey: Apinya Suebsaeng. Director, Capital Markets Department: David B. Gill. Regional Mission in Western Africa: Jean-Olivier Fraisse. Director, Corporate Promotion and Syndications: Giovanni Vacchelli. Special Adviser: James M. Kearns.

* Held the same position in the World Bank.

HEADQUARTERS AND OTHER OFFICES

HEADQUARTERS LONDON OFFICE International Finance Corporation International Finance Corporation TOKYO OFFICE 1818 H Street, N.W. New Zealand House, 15th floor, Haymarket International Finance Corporation Washington, D.C. 20433, United States London SW1 Y4TE, England 5-1 Nibancho, Chiyoda-ku Cable address: CORINTFIN WASHINGTONDC Cable address: CORINTFIN LONDON Tokyo 102, Japan Telephone: (202) 477-1234 Telephone: (71)930-8741 Cable address: SPCORINTFIN TOKYO Telex: ITT 440098, RCA 248423, WU 64145 Telex:919462 Telephone: (3) 261-3626 Telex: 26554 NEW YORK OFFICE International Finance Corporation PARIS OFFICE REGIONAL MISSION IN EAST ASIA 747 Third Avenue, 26th floor International Finance Corporation World Bank Group New York, N.Y. 10017, United States 66 Avenue d'Iena Central Bank of the Philippines Cable address: CORINTFIN NEWYORK 75116 Paris, France Manila, Philippines Telephone: (212) 963-6008 Cable address: CORINTFIN PARIS Cable address: CORINTFIN MANILA Telephone: (33) (1) 47-23-54-21 Telephone: 59-99-35, 521-16-64 Telex: 620628 Telex: 742-40541 International Finance Corporation 1151

REGIONAL MISSION IN EASTERN AND SOUTHERN REGIONAL MISSION IN INDONESIA REGIONAL MISSION IN TURKEY AFRICA International Finance Corporation International Finance Corporation International Finance Corporation Jl. Rasuna Said, Kav. B-10 Mete Caddesi 24/3 Reinsurance Plaza, 5th and 6th floors Suite 301 Taksim Taifa Road (P.O. Box 324/JKT) Istanbul, Turkey (P.O. Box 30577) Kuningan, Jakarta 12940 Cable address: CORINTFIN ISTANBUL Nairobi, Kenya Indonesia Telephone: 1432593, 1432126 Cable address: CORINTFIN NAIROBI Cable address: CORINTFIN JAKARTA Telex: 24994 Telephone: 24726 Telephone: 516089, 517316 Telex: 22022 Telex: 62141 REGIONAL MISSION IN WESTERN AFRICA International Finance Corporation REGIONAL MISSION IN INDIA REGIONAL MISSION IN THE MIDDLE EAST Corner of Booker Washington and International Finance Corporation International Finance Corporation Jacques Aka Streets 55 Lodi Estate 3 Elbergas Street, Garden City (Boîte postale 1850) (P.O. Box 416) Cairo, Egypt Cocody Abidjan 01, Côte d'Ivoire New Delhi 110003, India Cable address: IFCAI CAIRO Cable address: CORINTFIN ABIDJAN Cable address: CORINTFIN NEWDELHI Telephone: 3543923, 3545045, 3557759 Telephone: 32-90-61, 44-32-44 Telephone: 697-905 Telex: 93110 Telex: 28132 Telex: 3161493