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International Monetary Fund. External Relations Dept.

Proposal for IDA Replenishment By December 1967, IDA had extended credits totaling $1,713 million to help finance development projects in 38 of its 98 member countries. These commitments had virtually exhausted all usable resources available to IDA at that date and negotiations were being actively conducted for their replenishment. In March 1968, the Executive Directors of IDA recommended and transmitted to member governments for approval a proposal for the second replenishment of IDA’s resources by $1,200 million. The first replenishment, agreed to in

International Monetary Fund. External Relations Dept.

I nternational B ank For R econstruction And D evelopment I nternational F inance C orporation I nternational D evelopment A ssociation IDA Replenishment The second replenishment of IDA’s resources came into effect on July 23, 1969 with the formal notification to IDA of the United States’ agreement to participate. Under this replenishment, about $1,200 million is to be added to IDA’s funds by 18 contributing member countries plus Switzerland, a nonmember. By September 30, 1969, 16 member countries, contributing $1,120,560,000, had