Robert S. McNamara, President of the International Bank for Reconstruction and Development, announced today that the Bank proposes to offer during the week beginning September 16, 1968, $250,000,000 principal amount of Twenty-Six Year Bonds.
The Bonds will be publicly offered in the United States through a nationwide group of underwriters headed by The First Boston Corporation and Morgan Stanley & Co. The Bank also proposes to place directly an additional $25 million of the Bonds with governmental institutions outside the United States.
This $250 million to be offered in the United States, when taken together with the $25 million to be offered outside the United States would be the largest bond issue ever offered by the Bank.
Mr. McNamara has stated that he "felt confident that the Bank can very substantially increase its program of borrowing and expand the flow of investment funds to the developing countries".