Jerusalem, 23 July 1999

PM Barak Meets with World Bank President

(Communicated by the Prime Minister’s Media Adviser)

Prime Minister Ehud Barak today (Friday), 23.7.99, with World Bank President James Wolfensohn. Bank of Israel Governor Prof. Jacob Frenkel and Prime Minister’s Office Director-General Yossi Kucik were also present for part of the meeting.

During their meeting, the Prime Minister expressed his appreciation for the contribution of the World Bank to the development of economic, social and administrative infrastructures in the territories. The Prime Minister added that he views the efforts of the G-7 to advance the Middle East peace process as very important.

The President of the World Bank congratulated Prime Minister Barak on his recent political initiatives, and emphasized that regional stability — which will come as a result of progress in the peace process — will bring increased investment to the region. Mr. Wolfensohn added that the positive atmosphere will also enhance regional economic development.