The World Bank has announced the interest rates it will charge on its outstanding loans for the six months that began July 1, 1991. For loans made under, or converted to, the Bank's current variable lending rate system the rate is 7. 73 percent, unchanged from the past six months. For older variable rate loans not converted to the current system the interest rate is 7.71 percent, compared to 7.70 percent for the last semester.
The interest rate under the current system is based on the cost during the last semester of outstanding post-FY82 borrowings, excluding borrowings allocated to investments, weighted by the currencies outstanding in the Bank ' s loan pool. The interest rate under the old system is based on the average cost during the past semester of all outstanding post-FY82 borrowings. To each of these calculations the Bank adds a spread of one-half of one percent.