The World Bank today signed at its Annual Meeting an agreement for a Deutsche Mark syndicated loan in the amount of DM 150 million (about $48 million equivalent) with Deutsche Girozentrale - Deutsche Kommunalbank and a group of nine Landesbanken. The loan has a five-year maturity.
Besides Deutsche Girozentrale, the loan is provided by Bayerische Landesbank, Westdeutsche Landesbank, Hamburgische Landesbank, Hessische Landesbank, Badische Kommunale Landesbank, Landesbank Rheinland-Pfalz, Landesbank Schleswig-Holstein, Wuerttembergische Landesbank and Bremer Landesbank.
The proceeds of the loan will be used in the general operations of the World Bank.
