The World Bank signed eight borrowing agreements for a total of about US$560 million equivalent during the course of its annual meeting in Washington, D.C. This is the largest amount of borrowings the Bank has transacted during any of its annual meetings.
The borrowings were in five different currencies - Belgian franc, Deutsche mark, Dutch guilders, Norwegian kroner, and Swiss franc - and were for periods of between five and ten years. Including these, the Bank's new borrowings in the first quarter of the current fiscal year total about $3.3 billion.
