The second signing of the IBRD Articles of Agreement by Indonesia kicks off a period of intense and sustained engagement between the country and the World Bank.
Indonesia withdrew from the International Bank for Reconstruction and Development (IBRD) less than two years earlier, but during that time much had transpired in the country. New leadership, led by General Suharto, assumed power in July 1966 and quickly initiated an economic stabilization program, which included rejoining the World Bank, International Monetary Fund (IMF), and United Nations (UN). Immediately upon rejoining the Bank, plans for mission visits by Bank Group officials and the possibility of technical assistance will be discussed.
Senior Bank staff meets with Indonesian delegation after Indonesia's readmission to the Bank (1723108; Credit: The World Bank).
Minister Seda expresses satisfaction that Indonesia's membership in the World Bank has been renewed and then discusses the possibility of future Bank Group missions to the country (1786879).
The briefing note summarizes the history of Bank Group relations with Indonesia and discusses Indonesian debt rescheduling and the provision of new aid (1786892).
Nov. 4, 1967
The notes emphasize how Indonesia is entering a very important period in its economic development (1786892).
On page 3 of his transcript, Cole refers to Indonesia rejoining the World Bank.
On pages 4-9 of his transcript, the former International Monetary Fund (IMF) resident representative for Indonesia's relationship with the World Bank.
This resolution sets out the terms and conditions for Indonesia to rejoin the IFC.
The resolution sets out the terms and conditions for Indonesia to rejoin the IBRD.
Pages 28-29 of the Summary of Proceedings capture the speech made by the Hon. Frans Seda, Indonesia Governor of the Bank at the Annual Meeting.