The World Bank today signed an agreement for a Deutsche Mark syndicated loan in the amount of DM 100 million (about $31.5 million equivalent) with Deutsche Girozentrale – Deutsche Kommunalbank and a group of savings banks in Germany, Austria, Belgium and Luxembourg. The loan has a five-year maturity.
Besides Deutsche Girozentrale, the loan is provided by Die Sparkassen in Bremen, Landesgirokasse Offentiiche Bank und Lendesparkasse, Sparkasse der Stadt Berlin West, Caisse d’Epargne de l’Etat du Grand-Duche the Luxembourg Banque de l’Etat, Caisse Generale d’Epargne et de Retraite and Die Erste Osterreichishe Spar-Casse-Bank.
The proceeds of the loan will be used in the general operations of the World Bank.
