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World Bank Euro Announcements


Guide to the Euro: Information for World Bank Borrowers

(last updated 10/9/01)

A brochure has been prepared for all Borrowers and implementing agencies to answer basic questions about the euro and the impact on World Bank lending operations. The document, in Questions and Answers format, also includes a list of contact people by functional area.

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Greece Joins the Euro Club

(last updated 6/27/00)

On June 19, 2000, Greece was approved to become the 12th member of the European Union single-currency zone.  Greece will adopt the euro on January 1, 2001 at the conversion rate of 340.75 drachmas to the euro.

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Information for World Bank Bondholders

(last updated 12/21/98)

The World Bank expects to redenominate a number of its legacy currency bond issues in the period 1/1/1999 - 1/1/2002. Since several sovereigns have announced that they will redenominate on January 1999 and would therefore take the lead in operationalizing the redenomination process, the Bank will await the implementation of their redenomination and learn from their experience before redenominating its own securities.

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Letter to World Bank Pensioners

(last updated 12/18/98)

In December 1998, the following letter was sent to all World Bank Pensioners explaining the impact of the euro on their pensions.
Click here to view the text of this letter.

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Information on World Bank Trust Funds

(last updated 12/8/98)

In September, 1998 a letter was sent to donors (those adopting the Euro as their new currency) outlining the actions and procedures the Bank may adopt to handle the conversion to euros of funds the Bank now holds in their national currencies. The donor representatives have reacted to these proposals and in November a follow up letter was sent outlining the procedures that the Bank will follow in the conversion process.
Click here to view the text of this letter.

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Contact the Euro Task Force

Questions and comments can be sent to

EuroTaskForce@Worldbank.org

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