The World Bank has concluded arrangements for a borrowing of Yen 20 billion (about US$81.5 million equivalent) from the group of regional banks in Japan. The loan has a maturity of eight years and will bear interest at the rate of 7.90% per annum payable semi-annually.
Eugene H. Rotberg, Vice President and Treasurer of the World Bank, signed the agreement today in Tokyo. The Bank of Yokohama, Ltd. will act as manager and agent for this borrowing with The Hokuriku Bank Ltd., The Ashikaga Bank Ltd., The Bank of Fukuoka, Ltd., The Chiba Bank, Ltd., The Hachijuni Bank, Ltd., The Hokkaido Bank, Ltd., The Joyo Bank, Ltd., and The Shizuoka Bank, Ltd. as co-managers. Including this borrowing, the World Bank has concluded four transactions with this group of banks for an aggregate amount of Yen 70 billion (about US$285 million equivalent).