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PRESS RELEASE October 15, 1974

World Bank Borrowing $150 Million from Iran

The Imperial Government of Iran and the World Bank have signed an agreement for a loan to the World Bank of $150,000,000. The loan will have a maturity of 12 years and the interest rate will be 8% per annum.

This is the second loan made by the Imperial Government of Iran to the World Bank. This borrowing will bring the total amount borrowed by the World Bank from Iran to $350,000,000.

Note: Money figures are expressed in US dollar equivalents.