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World Bank makes US $75-million loan

    NAIROBI

    The World Bank has approved a US $75-million loan for Rwanda to boost spending on social services, news agencies report. “We are doing this on the understanding that [the DRC] war is coming to an end,” senior World Bank economist Chukwuma Obidegwu said yesterday. The loan, dubbed an “economy recovery credit”, is to be deposited directly into the central bank. Obidegwu said the World Bank had the government’s word the credit would not be spent on the DRC conflict. According to Reuters, donor funds account for around 45 percent of Rwanda’s 1999 budget.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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