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Republic of Hungary Graduates from the World Bank
WASHINGTON, April 26, 2007—The Government
of the Republic of Hungary marked its formal graduation from
the World Bank Group this month on the 25th anniversary of
its membership in the World Bank. Since Hungary joined in
1982, the World Bank has provided loans totaling US$3.5
billion and analytical and advisory support. World Bank
assistance helped the country lay the foundations for
economic liberalization in the communist era, implement
macroeconomic and structural adjustment programs during the
transition, and strengthen institutions, especially in the
financial and social sectors. More recent World Bank support
has focused on important environmental initiatives and the
Government’s commitment to the Decade of Roma Inclusion.
Hungary marked
its graduation with an exchange of letters on April 14,
2007. Mr. Miklos Tatrai, Senior State Secretary of the
Ministry of Finance of the Republic of Hungary, presented
the Government’s letter signed by Mr. Janos Veres, Minister
of Finance, to Mr. Shigeo Katsu, World Bank Vice President
for the Europe and Central Asia Region. Mr. Katsu presented
his letter to the Government on behalf of the World Bank,
conveying best wishes for Hungary’s continued success and
the prosperity of its citizens. Mr. Gino Pierre Alzetta,
Executive Director representing Hungary at the World Bank,
was also present.
Following Hungary’s graduation, future cooperation with the
World Bank will be based on knowledge sharing and
partnership. The World Bank welcomes Hungary’s continuing
commitment to multilateral initiatives through the Bretton
Woods institutions and particularly acknowledges Hungary’s
strong support for the International Development Association.
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For more information, please visit
http://www.worldbank.org/hu
http://www.meh.hu/
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