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PRESS RELEASE March 7, 1969

World Bank Borrows DM 125 Million in Germany

The World Bank has arranged a borrowing, as of April 1, 1969, of DM 125 million ($31,250,000) with the Westdeutsche Landesbank Girozentrale in cooperation with other German banks. Interest will be at a rate of 6 per cent per annum and repayment will be in eight annual installments starting in April 1977. This is the last of three tranches of the private placement of a sum totaling DM 400 million ($100 million) which was previously announced by the World Bank.

Including this new issue in Germany, the World Bank has arranged borrowings of the equivalent of $1,124 million since the beginning of the current fiscal year July 1, 1968.