VOL. XLVI

No 16

21-April-2003

IRAN

World Bank Approves $20Mn Loan To Iran Despite US Objections

The World Bank has approved a loan to Iran for $20mn, despite objections from its largest shareholder, the US, which is forbidden from voting in favor of loans to the country President Bush branded as part of the axis of evil. The loan, which has a maturity of 17 years and includes a grace period of five years, is intended to support efforts by the Iranian Government to reduce the impact of water and...