NO. 36


Financial and Banking News

Aid Flows

World Bank Makes New Loan to Iran and Yemen

The World Bank is to lend Iran $134mn to finance river, sewerage and waterdistribution projects. The loan will be for 17 years with five years' grace. Itwill have a float- ing rate of interest, starting at 7.73%. This is the secondWorld Bank loan to Iran since the revolution. The first, for $250mn made lastyear, covered the rehabilitation of areas devastated by earthquakes. The WorldBank...