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.

This is the...