World Bank Enhances Contingency Loans, Extends Maturities; Reforms respond to middle-income country requests.

0 Comments | M2 Presswire, March, 2008

M2 PRESSWIRE-5 March 2008-WORLD BANK GROUP: World Bank Enhances Contingency Loans, Extends Maturities; Reforms respond to middle-income country requests(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:04032008

WASHINGTON -- The World Bank Group today announced a new loan facility for natural catastrophes, improved the terms of an existing contingency financing product and approved a U.S. $300 million loan for Colombia under a new policy that significantly extends maturities.

The announcements are part of a drive by President Robert B.

Zoellick to improve the World Bank Group's efforts to overcome poverty in middle-income countries. They follow a major reduction in loan pricing announced in September as well as measures that have...

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