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PRESS RELEASE January 9, 1990

World Bank Announces New Lending Rate

The World Bank announced that the interest rate which will apply to its outstanding loans for the six months starting January 1, 1990 will be 7.75 percent. This rate applies both to loans initiated under the Bank's currency management system which took effect May 18, 1989 and to all variable rate loans initiated before May 18, 1989 and not converted to that system.

The interest rates applicable to the Bank's loans for the last six months, July 1-December 31, 1989, were 7.74 percent for loans initiated under the currency management system and 7.73 percent for all other variable rate loans.