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PRESS RELEASE May 21, 1974

World Bank Borrows $300 Million from Oman

On May 20, 1974 the Government of the Sultanate of 0man and the World Bank signed an agreement for a loan to the World Bank of $30,000,000. The loan will carry an interest rate of 8% per annum, payable semi-annually and will be repaid in three installments of $10,000,000 each on January 15, 1989, July 15, 1989 and January 15, 1990.

The proceeds of the issue will be used in the general operations of the Bank.