The World Bank announced that it will add the Japanese yen to the currencies available under its Global Multicurrency Note Program. The World Bank's US$8 billion equivalent program for issuance of notes now includes 21 currencies and the ECU. The addition of the Japanese yen to the program will allow the World Bank to streamline the issuance of Japanese yen securities.
Over the years, the Japanese yen has been the largest single currency of borrowings for the World Bank. The inclusion of the Japanese yen in our Global Multicurrency Note Program will significantly facilitate our offerings of yen-denominated securities, says Mr. Hans M. Rothenbuhler, World Bank Department Director for Financial Operations.
