International Business / The Pacific

World Bank to Extend Membership, Funding to Bosnia: The bank said its board approved a plan for the war-torn country to become a member of the bank, and said it expects to lend Bosnia $450 million over the next four years. Under the plan, Bosnia will assume its proportion of the debt owed by the former Yugoslavia; the arrears will be consolidated into a new 30-year loan from the International Bank for Reconstruction & Development. Because of Bosnia’s exceptional needs, a first wave of emergency projects will be financed from a $150-million trust fund, the World Bank said. Due to its plunge in gross domestic product per capita, Bosnia, once it clears its unpaid debts, will also be eligible for long-term financing at no interest from the International Development Assn.