VOL. XXXIV
NO. 25
25-MARCH-1991
Financial and Banking News
Aid Flows
World Bank Approves $250mn Loan to Iran for Earthquake Reconstruction
The World Bank approved a loan worth $250mn to Iran on 15 March that will beused for reconstructing areas in the country's northwestern region, which wasdevastated by an earthquake in June 1990. The loan is for 15 years and allows afive-year grace period during which only interest will be due. Total damage fromthe earthquake is estimated at over $5bn.
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