The International Bank for Reconstruction and Development (World Bank) and a consortium of Japanese trust banks led by the Mitsubishi Trust and Banking Corporation today signed a loan agreement for a World Bank borrowing of Yen 30,000,000,000. This is the largest placement ever done in the Japanese Yen syndicated loan market. The loan has a final maturity of 20 years (with repayments in the years 1993-1998) and represents also the longest-term loan in such market. The borrowing is the equivalent of $148.4 million.
The loan proceeds will be utilized in the general operations of the World Bank.