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This text compiles the legal opinions and memoranda written by Ibrahim F.I. Shihata to the World Bank's Executive Directors during his tenure as the Bank's Vice President, then Senior Vice President and General Counsel which extended from August 1, 1983 to October 15, 1998. It also includes some of Mr. Shihata's notes to the Bank's Senior Management and some of his oral interventions before the Bank's Board of Executive Directors. In addition, the book comprises the major legal memoranda written by the staff of the World Bank's Legal Department under Mr. Shihata's supervision. Never before had the World Bank or any international organization for that matter authorized the publication of such a detailed record. By authorizing and indeed encouraging such a publication, the World Bank President and Executive Directors are making a significant contribution to the Bank's transparency and to the development of the law of international financial institutions. The book is characterized by the very broad coverage of the topics it addresses and the depth of its analysis.;It provides a most relevant reading, not only to the lawyers of the World Bank and other global and regional development finance institutions, but also to members of the executive boards and management of these institutions as well as to all others concerned with issues of development, international law and international organizations. As the eighth book produced by Shihata, on matters related to the World Bank's work, it crowns his contribution to the varied and expanding fields this important institution continues to address.