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Recent agreements by international lending and financial institutions: World Bank * A $20 million loan to Cameroon to help fund urban development programs in the country's two largest cities.* A $13.1 million credit to Guinea-Bissau to develop and promote offshore petroleum exploration.* An $18.8 million loan to Jordan to help build 18 new schools as part of a vocational education expansion program.
Recent agreements by international lending and financial institutions: World Bank * An International Development Association credit of 36.9 million special drawing rights ($40 million) to accelerate agricultural and mining development in Togo.* An International Bank for Reconstruction and Development (IBRD) loan of $16 million to finance a dam for an irrigation project in Cyprus.
W. BANK ARABS SEEK FORTUNES IN JORDAN Beneath this rickety, single-lane span rushes a muddy creek called the Jordan River. On its west bank, busloads of Palestinian Arabs have been waiting since dawn to seek their fortunes in the Kingdom of Jordan and beyond.Most are young men. Many are skilled craftsmen or graduates of colleges and universities. Demand for their talents is far greater in the oil-rich Arab world than in their native West Bank, ruled by Israel since the 1967 Mideast war
IMF to Resume Loans to Brazil The International Monetary Fund yesterday voted to resume lending to Brazil, paving the way for disbursement of about $3 billion in IMF and commercial bank funds to the cash-strapped country.Brazil, the world's biggest foreign debtor, has been unable to borrow since last May when the IMF, and then the banks, cut off the country because it fell so far out of compliance with the economic targets it accepted last February in return for the IMF loan.
Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * A $16.1 million International Development Association credit to Senegal to help finance a project which will increase farm output and more than double the incomes of 80,000 farm families. Farmers will be provided with animal-driven land preparation equipment and ox-drawn carts, vaccines for livestock, an agricultural training center, and credit for purchasing farm supplies.
Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * Three loans totaling $519 million to Turkey from the International Bank for Reconstruction and Development. These loans will help finance an economic stabilization program begun in 1980, the installation of power transmission lines in the east and consumption centers in the west, and the exploration of natural gas deposits in Thrace.
BANKS TO MONITOR WORLD DEBT WOES A group of 35 senior bankers from North and South America, Europe and Japan, meeting in Washington, yesterday formed an international institute to monitor world debt problems. The organization will serve as a private institute for the bankers, bringing together information about borrowing nations' needs, economic conditions and plans for repayment of loans to the world's banks, its coordinator, Chase Manhattan Bank, said in a statement here
THE REPOSSESSED RING A Wisconsin bank is selling Gene Brabender's 1966 World Series Championship ring because the former Baltimore Oriole pitcher has failed to repay a loan."I don't mind telling you that a few tears came down," said Brabender's fiancee, Donna Meland. "He has his own construction business, and the ceiling just fell in. They took his ring for collateral ... Now they are going to take his tools."
Recent agreements by international lending and fi Recent agreements by international lending and financial institutions: World Bank * A $6.21 million International Development Association credit to the Lao People's Democratic Republic. The project will help improve incomes of 60,000 small-farm families by increasing output, and includes providing small-scale irrigation systems, farm road maintenance,and livestock feed production, as well as warehousing and inventory management.
Recent agreements by international lending and financial institutions: World Bank * An International Bank for Reconstruction and Development (IBRD) loan of $11 million to the People's Republic of the Congo to provide consultants to help the government improve the management of its public finance, external debt portfolio, policy making and urban development planning.
Recent agreements by international lending and financial institutions: World Bank * A $5.3 million loan to Belize to rehabilitate some of their major roads and highways. The loan will also provide road maintenance equipment and tools, as well as spare parts for overhaul of equipment.* A $25.2 million loan to Costa Rica from the International Bank for Reconstruction and Development, to expand exports.
IN BRIEF\ REGAN PUSHES WORLD BANK FUNDS Treasury Secretary Donald T. Regan asked Congress for a continued financial commitment to the World Bank and other international agencies that lend to less-developed nations. "It is the view of the Administration that the multilateral development banks do contribute effectively to economic growth and development and that active US support for these institutions is critical to our security and economic interests," he said in testimony to a Senate Appropriations.
A CITY IS BORD FOR FOLLOWERS OF 'TRUE JUDAISM' Not far from the tomb of the Biblical patriarch Joshua, the world's first city planned exclusively for Orthodox Jews is taking shape on a wind-swept mountaintop of stunted trees and bare rock.The landscape in this arid region of Samaria on the West Bank is as hard and white-knuckled as a fist, unchanged for 5,000 years of Jewish and Arab history. But the developers of Emanuel - interpreted here to mean "God is with us" - are dreaming big dreams.
GORDON KINGSBERRY, RETIRED BANKER, WWII INTELLIGENCE AGENT Gordon M. Kingsberry, retired vice president of First Pennsylvania Bank and an intelligence agent during World War II, died Monday. He was 67 and had lived in Penn Valley, Montgomery County, before moving to Yarmouth Port, Mass.Kingsberry retired in 1981 from First Pennsylvania. He had been named a vice president of the bank in March 1969. He had joined the bank as a sales representative in 1948.
WORL BANK TO AID CHINA Associated Press PEKING -- A World Bank official said yesterday that the bank would provide more financial and technical assistance to China' s modernization program, especially in the agriculture and energy sectors, the official Xinhua new agency reported.Chinese Vice Premier Yao Yilin told World Bank vice president Attila Karaosmanoglu that China' s cooperation with the bank has produced initial results and that he expects the cooperation.
Lady, If You Only Knew the Joys and Pains of Teaching 'ARE YOU WITH the World Bank?" she asked. I had on my only suit that isn't speckled with red ink stains. "No. I teach English at T.C. Williams High School in Alexandria," I replied.As it often does, that answer put a heavy strain on the cocktail chitchat. "You don't meet many English teachers in Washington," the woman remarked. How long had I been "doing that?"
Recent agreements by international lending and financial institutions: World Bank * An International Development Association credit of 26.5 million special drawing rights ($28.5 million) to help finance the $36 million expansion of a petroleum refinery in Bangladesh. The project, which is expected to increase the facility's capacity by 15 percent, is part of a national program to conserve energy and reduce petroleum imports.* An IDA credit of 14.5 million SDRs.
Recent agreements by international lending and financial institutions: World Bank * A $13 million, 50-year credit to Rwanda from the IDA for construction of water treatment plants, pumping stations, and reservoirs to supply water to five rural areas.Inter-American Development Bank * A 15 billion yen ($62.8 million) syndicated loan to the IADB by a group of Japanese long-term credit banks and life insurance companies, for use in Latin American economic development.
OFFSHORE BANKING ONLY 15,000 people reside in the Cayman Islands, a British crown colony just south of Cuba. At first glance, such a spot would seem unlikely to be of one of the most active international-banking centers in the world, but it is.Some 30 multinational commercial banks have outlets in the Caymans. About 300 other "brass-plate" banks--so called because they're little more than nameplates on doors-- have sprung up there in recent years.Why the Caymans?
THINKING BIG IN TENNESSEE: HOW A BOOSTER'S BANK FAILED Just as the World's Fair site in the heart of Knoxville is locked and silent now, so is Jake Butcher's spacious office, overlooking the fair's empty tents and pavilions.In Knoxville's sleekest, tallest building -- housing the third-largest failed bank in U.S. history -- each sofa, armchair and painting is tagged with a four-digit inventory number. Only the opulence hints at the grand plans made here.