New loans by the World Bank will...
New loans by the World Bank will reach a record $21 billion in the year ending June 30, up from $19.2 billion a year ago, bank officials predicted. The bank said $16 billion would go to the somewhat more prosperous countries that still need easy loans to raise their living standards. They pay interest at a variable rate, now 7.65% a year. More than $5.5 billion will go to the poorest countries from the bank’s International Development Assn. It makes loans at less than 1% interest.
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