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Fund and Bank activity: Fund transactions; Bank loans and IDA credits; new sector paper on health

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
June 1980
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Fund Activity

Summary of Fund operations in the General Resources Account, January 1,1977-March 31,1980(In millions of SDRs)
Transactions197719781979January 1-March 31
19791980
Total purchases3,424.63,744.31,842.8224.7741.6
Reserve tranche80.02,535.5147.112.688.0
Credit tranche2,895.3421.0853.1130.7287.4
Compensatory financing240.5577.7572.015.9350.3
Extended facility208.8174.0233.054.016.0
Buffer stock36.137.711.5
Total repurchases2,936.54.845.24,215.3816.1703.7
Fund borrowing
General Arrangements to Borrow11,730.0777.3
Supplementary financing facility306.9120.2
Repayment of loans
General Arrangements to Borrow11,142 1587.9
Oil facility261.81,422.62,218.3663.5223.2
Supplementary financing facility
Gold sales628.0468.6388.065.580.6
In connection with auctions211.1207.1181.849.455.7
(i) Replenishment up to May 31, 1978(211.1)(91.9)(—)(—)(—)
(ii) Competitive bids(—)(115.2)(181.8)(49.4)(55.7)
Noncompetitive bids48.53.32.6
In distributions416.9213.0202.913.524.9
Source: IMF, Treasurer’s Department.Note: Details may not add to totals due to rounding.

Includes Swiss National Bank.

Source: IMF, Treasurer’s Department.Note: Details may not add to totals due to rounding.

Includes Swiss National Bank.

Bank Activity

IDA credits approved during third quarter of fiscal year 1980(Ended March 31, 1980)
Country1PurposeAmount

(In millions of

U.S. dollars)
Bangladesh (3)Imports program, low lift pumps, water supply107.0
BeninIndustrial development10.0
BoliviaGas and oil engineering16.0
BurundiEducation15.0
CameroonRubber215.0
EgyptAgroindustries45.0
HondurasPower320.0
IndiaPopulation46.0
Indonesia (3)Rubber, irrigation, agricultural extension132.0
KenyaStructural adjustment credits55.0
LesothoDevelopment banking4.0
Madagascar (2)Power, development banking15.0
MalawiRural development13.8
MaliDevelopment banking8.0
PakistanHighway50.0
Senegal (2)Rural development, highway439.0
Sri Lanka (2)Technical assistance, road56.0
SudanAgricultural rehabilitation program65.0
TanzaniaDevelopment banking10.0
UgandaReconstruction credits72.5
Upper VoltaForestry14.5
Yemen Arab RepublicRural Development5.5
ZaïreDevelopment banking18.5
Total832.8

Figures in parentheses are the number of credits approved for the respective country.

With a $16.5 million World Bank loan.

With a $105 million World Bank loan.

With a $10 million World Bank loan.

Figures in parentheses are the number of credits approved for the respective country.

With a $16.5 million World Bank loan.

With a $105 million World Bank loan.

With a $10 million World Bank loan.

World Bank loans approved during third quarter of fiscal year 1980(Ended March 31, 1980)
Country1PurposeAmount

(In millions of

U.S. dollars)
Algeria (3)Water supply engineering, irrigation, education100.0
BarbadosDevelopment banking10.0
Brazil (3)Water supply, power, industrial pollution control302.0
CameroonRubber 216.5
Colombia (2)Power, telecommunications131.0
EgyptDevelopment banking50.0
HondurasPower 3105.0
IndonesiaIrrigation116.0
Ivory CoastRural development9.4
JordanDevelopment banking10.0
Kenya (2)Power, development banking70.0
KoreaEducation100.0
MalaysiaPower50.0
MexicoMining development40.0
Peru (2)Petroleum production rehabilitation, rural development47.5
Philippines (4)Irrigation, agricultural devel opment, urban development sewerage and sanitation218.0
PortugalEducation40.0
Romania (2)Danube -Black Sea Canal, irrigation190.0
SenegalHighway 410.0
SwazilandEducation10.1
ThailandAgricultural credit19.0
Tunisia (2)Irrigation, port67.5
TurkeyStructural adjustment loan200.0
UruguayPort50.0
Yugoslavia (2)Agricultural credit, highway211.0
Total2,173.0

Figures in parentheses are the number of loans approved for the respective country.

With a $15 million IDA credit.

With a $20 million IDA credit.

With a $28 million IDA credit.

Figures in parentheses are the number of loans approved for the respective country.

With a $15 million IDA credit.

With a $20 million IDA credit.

With a $28 million IDA credit.

Bank will directly finance health projects

In a shift of policy, the World Bank recently decided to finance directly health projects in the developing countries. Under its old policy, formulated in 1974, health components providing basic health care for low-income people were incorporated into projects in other sectors, such as agriculture and rural development, urban development, and water supply and sewerage. Lending for such components will continue. The new policy, approved by the Executive Directors of the Bank, is outlined in a report entitled Health Sector Policy Paper.

After reviewing the World Bank’s experience in financing health-related activities in 44 countries, the report recommends the adoption of a three-tier pyramidal structure for delivery of health services, adapted to local conditions. The first level comprises community health workers who can treat simple, common ailments and refer other cases to a health center or a district hospital. The second-level facility can be staffed by at least a medical assistant and midwife, and deal with accidental injuries, high-risk pregnancies, and the diagnosis and treatment of complex and less common diseases. The third level can comprise the referral hospital attended by qualified physicians and other trained staff.

The Bank’s new lending program for health will begin with one project in fiscal year 1981 (July 1,1980 to June 30,1981) and expand to four or five projects annually by fiscal year 1984. The projects will be designed to strengthen the primary health care systems of the countries being assisted in order to reduce mortality and morbidity, and to improve access to basic health services for the poor.

Emmanuel D’Silva

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