The World Bank and a consortium of Japanese life insurance companies today signed an agreement for a loan to the World Bank in an amount of Yen 25 billion (about $192 million). The loan will carry an interest rate of 5.50 percent, payable semiannually and will have a final maturity of 23 years.
Nippon Life Insurance Company is the lead-manager and the Dai-Ichi Mutual Life Insurance Company is the co-lead manager. The Bank of Tokyo is the agent for the loan.
