The World Bank's Action on Burma la

[dawnstar@xxxxxxxxxxxxx]

Subject: Re: The World Bank's Action on Burma last year (lending began when?????????)

thanks jm, do you know when the lending started to amount to the total:>
"....totaled US$719.92 million equivalent as of July 31, 1998, with
total
arrears of US$14.02 million equivalent as of September 2, 1998...."

ds

moe@xxxxxxxxxxxxx wrote:
> 
> NEWS RELEASE
>  News Release No. 99/1930/EAP
> 
> Contacts:
> 
> Andrea Beckwith (202) 473-4051
> 
> Peter Stephens (202) 458-2281
> 
> Fax: (202) 522-3405
> 
> WORLD BANK PLACES CREDITS TO UNION OF MYANMAR IN NON-ACCRUAL
> STATUS
> 
> Washington, September 4, 1998 ? Effective September 2, 1998, the World
> Bank has placed all credits to the Union of Myanmar in non-accrual
> status.
> 
> This action was in accordance with the Bank?s established policy of
> placing all its loans and credits to, or guaranteed by, a country in
> non-accrual status if
> payment on any loan or credit is overdue by more than six months.
> 
> At the date of this action, credits from the International Development
> Association (IDA), the Bank?s concessional lending arm, to the Union
> of Myanmar
> totaled US$719.92 million equivalent as of July 31, 1998, with total
> arrears of US$14.02 million equivalent as of September 2, 1998.