IN the year under review, two new members joined the Fund and several other countries applied for membership. Portugal became a member on March 29, 1961, with a quota of US$60 million. Nigeria joined the Fund on March 30, 1961, with a quota of US$50 million, bringing the total membership to 70. Laos has become a member since the end of the fiscal year; acceptance of membership by Cyprus, Nepal, and New Zealand is still pending.