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PRESS RELEASE February 13, 1992

World Bank Appoints Jessica P. Einhorn as VP and Treasurer

Lewis T. Preston, President of the World Bank, announced the appointment of Jessica P. Einhorn as Vice President & Treasurer effective March 1, 1992. Mrs. Einhorn will succeed Donald Roth who has resigned effective February 28, 1992, to re-enter the private sector.

Mrs. Einhorn has been Director, Treasury Operations and Deputy Treasurer since December 1, 1991. Prior to that she served for four years as Director of the Financial Operations Department where she was responsible for the World Bank's annual borrowings, averaging $16 billion equivalent including $5 billion of refinancing of short-term borrowings) in leading financial markets around the globe. Those borrowings are the primary source of funding for loans by the International Bank for Reconstruction and Development, the formal name of the World Bank.

Commenting on her being named his successor, Don Roth said "I am delighted that Jessica Einhorn has been appointed Treasurer. She has an in-depth knowledge of capital markets, wide-ranging contacts with financial institutions and a deep knowledge of the Bank's financial policies and procedures. She is a terrific choice and will make an outstanding Treasurer."

Prior to joining the Treasury area of the World Bank in March 1981, Mrs. Einhorn served in the international monetary and development finance offices of the U.S. Treasury, in the U.S. State Department in the office of the Undersecretary for Economic Affairs, and in the International Development Cooperation Agency of the United States.

Mrs. Einhorn holds a Bachelor of Arts degree from Barnard College, Columbia University; a Master’s degree in International Affairs from Johns Hopkins University; and a PhD in Politics from Princeton University. She also has studied at the London School of Economics and as a Fulbright Scholar in Caracas, Venezuela. From 1977-78, she was at the Brookings Institution on a Rockefeller Foundation fellowship to study international bank lending.