Iran Resumes Payments to World Bank on Closed Loans
September 27, 2013
WASHINGTON, September 27, 2013 - Effective September 27, 2013, the International Bank for Reconstruction and Development (IBRD) has moved all loans to the Islamic Republic of Iran from non-performing status to performing status following the payment of all overdue amounts on these loans.
The Bank does not have a program for the Islamic Republic of Iran and all projects referenced above are closed. IBRD complies with UN sanctions and international sanctions and is consistent with US laws and regulations concerning Iran.
The effect of this action will be to increase IBRD's fiscal year 2014 income by approximately US$31 million. As of September 27, 2013, the remaining principal amount outstanding on IBRD loans to the Islamic Republic of Iran is approximately US$616 million, or 0.4 percent of IBRD's total outstanding loans.
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