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PRESS RELEASE July 6, 1970

World Bank Announces Establishment of World Bank Office in Tokyo

The World Bank announced today that it is establishing an office in Tokyo which will open at the beginning of November 1970.

This office, which reflects the growing importance which the Bank attaches to relations with Japan, would act for the International Bank for Reconstruction and Development and its affiliate the International Development Association.

Its activities would be mainly concerned with facilitating liaison between the Bank and the Japanese Government, as well as the Japanese financial community.

The office would also serve as an information point for the Japanese press and public who wish to learn about the activities of the World Bank.

Mr. Aritoshi Soejima, born in 1926, has been appointed by the President of the World Bank as Director of the new Tokyo Office. Mr. Soejima is currently serving as Counselor for International Affairs of the Ministry of Finance and is well known in the Japanese financial community as well as in Washington, where he spent six years on the staff of the International Monetary Fund. He has also served as a Budget Adviser to the Government of Liberia.