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PRESS RELEASE March 22, 1989

World Bank Announces Prepayment of a Japanese Yen Public Issue

The World Bank announced today that it intends to prepay an outstanding public yen bond issue, the 7.9 percent Bonds of 1983, due 1995 (Series 20) at its next interest payment date on June 8, 1989. The aggregate amount to be prepaid is Yen 18.4 billion (about US$ 140 million) plus a prepayment premium of 3.0 percent of the principal amount to investors.

The World Bank has previously exercised prepayment rights with respect to borrowings denominated in Japanese yen, Swiss franc, Luxembourg franc, Austrian schilling, Belgian franc and Kuwaiti dinar.